Morocco's central bank has kept the interest rate unchanged at 2.75 percent, as it monitors the evolution of economic and social conditions in the country and globally.
The CBE pointed out that the decision comes in light of the bank's recording of economic and social prospects surrounded by a high level of uncertainty associated with the international level, especially the continuation of the war in Ukraine, and the escalation of the conflict in the Middle East. He expected inflation to continue to slow in 2024 to reach 1.3 percent, before accelerating to 2.5 percent in 2025, compared to 1.7 percent last August. In 2023, Morocco's inflation rate rose to 6.1 percent, as the kingdom was affected by the rise in the prices of basic commodities, especially energy, and the continued drought for the sixth consecutive year at that time.
Source (Anadolu Agency, Edited)
