Morocco's Central Bank reduces key rate by 50 basis points to 1.5%

Morocco's Central Bank-Bank Al-Maghrib (BAM) decided, on Tuesday, to reduce the key rate by a further 50 basis points to 1.5 percent at the end of its second quarterly Board meeting of the year 2020.

«The Board decided, after the 25-basis-point cut last March, to reduce the key rate by a further 50 basis points to 1.5 percent and to fully liberate the reserve account in favour of the banks», said a statement by Bank Al-Maghrib.