Morocco central bank holds benchmark interest rate at 2.25%

Morocco central bank holds benchmark interest rate at 2.25%
(file photo: Reuters)
Updated 24 September 2019

Morocco central bank holds benchmark interest rate at 2.25%

Morocco central bank holds benchmark interest rate at 2.25%
  • Inflation is expected to slow to 0.7% in 2019 from 1.9% last year on the back of a drop in food prices
  • It will pick up to 1.2% in 2020 as domestic demand improves

RABAT: Morocco’s central bank kept its benchmark interest rate unchanged at 2.25 on Tuesday, saying current borrowing costs were in line with the medium-term prospects of inflation, growth and public finances.

Inflation is expected to slow to 0.7% in 2019 from 1.9% last year on the back of a drop in food prices, before picking up to 1.2% in 2020 as domestic demand improves, the bank said in a statement following its board meeting.