Morocco's central bank lowers key interest rate to 2.75%

The Board of Bank Al-Maghrib (BAM) convened in Rabat on Tuesday and decided to reduce the key interest rate by 25 basis points (bps) to 2.75%.

In a statement following its second quarterly meeting of 2024, the central bank announced, «After keeping the key rate unchanged for four consecutive meetings, it has been reduced by 25 basis points to 2.75%».

The statement further indicates that the Board will continue closely monitoring economic and inflationary developments, both domestically and internationally.