Moroccan Central Bank Keeps Main Interest Rate at 3%

The Moroccan central bank announced that it has kept the benchmark interest rate unchanged at three percent today, Tuesday, to maintain price stability. The bank added in a statement following the quarterly meeting of its board of directors that inflation, driven by food prices, is expected to average 6.1 percent this year, down from 6.6 percent last year. It mentioned that in 2024, inflation is expected to decline further to 2.4 percent, assuming a decrease in imported goods prices and stability in food prices.