"Bank of Morocco" Cuts the Main Interest Rate to 2.5% with Expectations of Economic Growth and Moderate Inflation
The Central Bank of Morocco decided to cut the main interest rate by 25 basis points to 2.5%. In a statement issued following its meeting on Tuesday, the bank explained that this decision aligns with inflation expectations.
The bank noted that the inflation rate, which began decreasing in the second quarter of 2023, is expected to stabilize at an average level of around 1% by the end of this year, compared to 6.1% last year.
The bank also predicted that inflation would remain at moderate levels over the medium term, with an expected rate of 2.4% in 2025 and 1.8% in 2026, according to the statement reported by "Al Arabiya Business."
Regarding economic growth, the bank forecasted limited national economic growth of 2.6% in 2024, compared to 3.4% in 2023. However, growth is expected to improve, reaching 3.9% over the next two years.
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