Industrial Production Growth at 7.30%

Source: mospi

CPI Inflation at 4.38%

Source: mospi

Industrial Production Growth at 5.10%

Source: mospi

CPI Inflation at 3.93%

Source: mospi

Policy Repo Rate Held

Status quo; neutral stance; GDP forecast at 6.6%

Industrial Production Growth at 4.90%

Source: mospi

Industrial Production Growth at 4.90%

Source: mospi

Policy Repo Rate Held

Status quo; neutral stance maintained

Policy Repo Rate Held

Status quo; neutral stance maintained

Rate Cut (-25 bps)

25bps cut; softer inflation; neutral stance

Policy Repo Rate Held

Status quo; neutral stance maintained

Policy Repo Rate Held

Status quo; neutral stance maintained

Rate Cut (-50 bps)

Jumbo 50bps cut; stance changed to neutral

Rate Cut (-25 bps)

Unanimous cut; stance shifted to accommodative

Rate Cut (-25 bps)

First cut since 2020; softening inflation

Policy Repo Rate Held

Hold; 4-2 majority; CRR cut 50bps announced

Policy Repo Rate Held

Hold; 5-1 majority; stance changed to neutral

Policy Repo Rate Held

Hold; 4-2 majority; withdrawal of accommodation

CPI Inflation at 4.88%

CPI for May 2024

Industrial Production Growth at 5.90%

IIP for Apr 2024

Policy Repo Rate Held

Unanimous hold

CPI Inflation at 4.80%

CPI for Apr 2024

Industrial Production Growth at 5.00%

IIP for Mar 2024

CPI Inflation at 4.93%

CPI for Mar 2024

Industrial Production Growth at 4.90%

IIP for Feb 2024

Policy Repo Rate Held

Hold; watching global cues

CPI Inflation at 5.16%

CPI for Feb 2024

Industrial Production Growth at 5.70%

IIP for Jan 2024

CPI Inflation at 5.05%

CPI for Jan 2024

Industrial Production Growth at 5.60%

IIP for Dec 2023

Policy Repo Rate Held

Hold; growth-inflation balance

CPI Inflation at 5.73%

CPI for Dec 2023

Industrial Production Growth at 3.80%

IIP for Nov 2023

CPI Inflation at 5.48%

CPI for Nov 2023

Industrial Production Growth at 2.40%

IIP for Oct 2023

Policy Repo Rate Held

Hold; inflation within tolerance

CPI Inflation at 4.83%

CPI for Oct 2023

Industrial Production Growth at 11.70%

IIP for Sep 2023

CPI Inflation at 5.09%

CPI for Sep 2023

Industrial Production Growth at 5.80%

IIP for Aug 2023

Policy Repo Rate Held

Hold; withdrawal of accommodation stance

CPI Inflation at 6.86%

CPI for Aug 2023

Industrial Production Growth at 10.30%

IIP for Jul 2023

Industrial Production Growth at 5.70%

IIP for Jun 2023

CPI Inflation at 7.45%

CPI for Jul 2023; tomato price surge

Policy Repo Rate Held

Hold; monsoon inflation concerns

CPI Inflation at 4.84%

CPI for Jun 2023

Industrial Production Growth at 3.70%

IIP for May 2023

CPI Inflation at 4.31%

CPI for May 2023

Industrial Production Growth at 5.20%

IIP for Apr 2023

Policy Repo Rate Held

Unanimous hold

Industrial Production Growth at 4.20%

IIP for Mar 2023

CPI Inflation at 4.69%

CPI for Apr 2023

CPI Inflation at 5.66%

CPI for Mar 2023

Industrial Production Growth at 1.10%

IIP for Feb 2023

Policy Repo Rate Held

Surprise pause in hiking cycle

CPI Inflation at 6.40%

CPI for Feb 2023

Industrial Production Growth at 5.60%

IIP for Jan 2023

CPI Inflation at 6.53%

CPI for Jan 2023

Industrial Production Growth at 5.20%

IIP for Dec 2022

Rate Hike (+25 bps)

Sixth and final hike in cycle

CPI Inflation at 5.71%

CPI for Dec 2022

Industrial Production Growth at 4.30%

IIP for Nov 2022

CPI Inflation at 5.92%

CPI for Nov 2022

Industrial Production Growth at 7.10%

IIP for Oct 2022

Rate Hike (+35 bps)

Fifth hike; pace moderation

CPI Inflation at 6.77%

CPI for Oct 2022

Industrial Production Growth at -4.00%

IIP for Sep 2022

CPI Inflation at 7.33%

CPI for Sep 2022

Industrial Production Growth at 3.10%

IIP for Aug 2022

Rate Hike (+50 bps)

Fourth hike in tightening cycle

CPI Inflation at 6.99%

CPI for Aug 2022

Industrial Production Growth at -0.80%

IIP for Jul 2022

CPI Inflation at 6.66%

CPI for Jul 2022

Industrial Production Growth at 2.40%

IIP for Jun 2022

Rate Hike (+50 bps)

Third hike in tightening cycle

CPI Inflation at 6.94%

CPI for Jun 2022

Industrial Production Growth at 12.30%

IIP for May 2022

CPI Inflation at 6.98%

CPI for May 2022

Industrial Production Growth at 19.60%

IIP for Apr 2022

Rate Hike (+50 bps)

Second hike in tightening cycle

CPI Inflation at 7.82%

CPI for Apr 2022; consensus unavailable

Rate Hike (+40 bps)

Off-cycle emergency hike; inflation surge

CPI Inflation at 6.90%

CPI for Mar 2022; consensus unavailable

Policy Repo Rate Held

First bi-monthly 2022-23; final hold before tightening

CPI Inflation at 6.06%

CPI for Feb 2022; consensus unavailable

CPI Inflation at 6.08%

CPI for Jan 2022; consensus unavailable

Policy Repo Rate Held

Sixth bi-monthly 2021-22

CPI Inflation at 6.01%

CPI for Dec 2021; consensus unavailable

Policy Repo Rate Held

Fifth bi-monthly 2021-22

Policy Repo Rate Held

Fourth bi-monthly 2021-22

Policy Repo Rate Held

Third bi-monthly 2021-22

Policy Repo Rate Held

Second bi-monthly 2021-22

Policy Repo Rate Held

First bi-monthly 2021-22

Policy Repo Rate Held

Sixth bi-monthly 2020-21

Policy Repo Rate Held

Fifth bi-monthly 2020-21

Policy Repo Rate Held

Fourth bi-monthly 2020-21

Policy Repo Rate Held

Third MPC statement 2020-21

Rate Cut (-40 bps)

Off-cycle emergency cut; COVID-19 response

Rate Cut (-75 bps)

Off-cycle emergency cut; COVID-19 response