Morocco Central Bank cuts key rate to 2.5%

The Board of Morocco's central bank, Bank Al-Maghrib (BAM), convened on Tuesday in Rabat and announced a decision to lower the key interest rate by 25 basis points, bringing it down to 2.5%.

In a press release issued after its fourth and final quarterly meeting of 2024, BAM explained: «Given that inflation evolves at levels in line with the price stability objective and considering the high uncertainty surrounding the medium-term outlook, particularly on the international stage, the Board decided to reduce the key rate by 25 basis points to 2.50 percent».

The Board emphasized its commitment to closely monitoring economic developments. Decisions will be made on a meeting-by-meeting basis, relying on the most up-to-date data available.