The Reserve Bank of India (RBI) unveiled its first monetary policy decision for FY26 today, Wednesday, April 9, amid escalating global trade tensions triggered by recent US tariff hikes. The Monetary Policy Committee (MPC), chaired by RBI Governor Sanjay Malhotra, held deliberations from April 7 to 9, with the policy announcement expected later this morning.
Sanjay Malhotra has started the address and will hold a post-policy press conference at 12pm. Both will be live-streamed on the central bank’s official YouTube channel.
“Inflation is below the target, and there has been a decisive improvement in overall inflation”, said the RBI governor. As per projection, it is due to alignment to maintain inflation at 4 percent in the upcoming 12 months. On the other hand, “impeded by a challenging global environment, growth remains lower than what we aspire for. With the benign inflation outlook, MPC continues to support growth”, he further added.
“The Indian government has made steady growth. Food inflation has given us stability, and we are still vigilant. After a detailed assessment, MPC voted to reduce policy repo points by 25 basis points to 6 percent with immediate effect. Consequently, MSF and bank rate to stand adjusted to 6.2 percent. Moreover, it decided to change the stance from neutral to accommodative”, said the governor.
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