All eyes are on the Reserve Bank of India (RBI) as its Monetary Policy Committee (MPC) begins a crucial three-day meeting that could shape the country's interest rate outlook amid rising crude oil prices and pressure on the rupee.The policy announcement will be made by RBI Governor Sanjay Malhotra later this week, with markets closely tracking any signals on inflation, growth and future rate moves.ALSO READ: Amid layoffs, this engineering role sees 700% surge in demand, offers salaries up to $200,000; Anthropic, OpenAI and McKinsey are hiringRBI MPC Meeting: Key Dates and TimingsThe RBI's bi-monthly MPC meeting is scheduled from June 3 to June 5, 2026. The policy decision will be announced on Friday, June 5, at 10 am, followed by Governor Sanjay Malhotra's press conference at 12 pm.Where to Watch the RBI Policy Announcement LiveViewers can watch the RBI Governor's policy statement live on the RBI's official YouTube channel. The announcement and subsequent media briefing will also be covered by major business news platforms.What Is the Market Expecting?The upcoming policy review comes at a challenging time for the central bank.Brent crude prices have risen sharply following tensions in West Asia, while the rupee has faced renewed pressure. At the same time, consumer inflation has remained relatively contained, giving policymakers some room to assess the situation before making major changes.According to a recent Reuters poll, a majority of economists expect the RBI to keep the repo rate unchanged at 5.25% in June. However, several analysts believe inflation risks and currency pressures could influence the central bank's stance in the months ahead.What Happened in the Previous MPC Meeting?At its April policy review, the RBI left the repo rate unchanged at 5.25% and maintained a neutral policy stance. The central bank also projected GDP growth of 6.9% for FY27 and raised its retail inflation forecast for the fiscal year to 4.6%.Why This MPC Meeting MattersThe June policy decision is being closely watched because it comes amid global uncertainty, rising energy costs and concerns about inflation. Investors, borrowers and businesses will be looking for clues on whether the RBI remains comfortable with current rates or sees a need to adjust policy later this year.