Morocco’s central bank has kept its benchmark interest rate unchanged at 2.25 percent, maintaining a cautious policy stance as inflation trends lower but economic risks persist. The decision was taken at the latest meeting of Bank Al Maghrib’s board, as stated in the bank’s monetary policy communiqué and reported by Reuters.
Policymakers said the rate hold reflects easing inflationary pressures alongside uncertainties linked to global growth and domestic demand. Bank Al Maghrib noted that inflation has continued to moderate in recent months, supported by improved food supply conditions and lower imported price pressures, according to details released by the central bank and cited by Morocco’s state news agency MAP.
The bank also highlighted steady economic activity driven by tourism, agriculture recovery and investment momentum, while credit growth remains gradual. Officials said monetary policy would stay data dependent and flexible, with future decisions guided by inflation expectations and evolving economic conditions, as outlined in the central bank’s statement.
Analysts say the decision reinforces Morocco’s stability focused monetary framework while preserving room to support growth if conditions warrant. Economists cited by Reuters said the central bank is likely to keep rates steady in the near term unless inflation surprises to the upside or global financial conditions tighten sharply.
