Reserve Bank of India Governor Urjit Patel will announce the monetary policy today, but observers say he is likely to keep the repo rate unchanged.  The press conference on the monetary policy will be his first since the standoff with the Centre over the control of the bank.Apart from the interest rates, investors will be watching Patel's response to the issues related to RBI's autonomy and reserves.


The RBI will issue a statement at 2:30 pm in Mumbai followed by a press conference by Patel 15 minutes later.


In its last bi-monthly monetary policy, the RBI, against the popular opinion had kept the repo rate unchanged at 6.50 per cent. The six-member Monetary Policy Committee headed by the RBI Governor had its fifth bi-monthly review over the last two days.