The National bank of Morocco held its benchmark interest rate at a record low of 1.5% at its June 2022 meeting, in order to support the economy in the face of global uncertainties caused by the war and persistent inflationary pressures. Domestically, inflation is expected to reach 5.3% this year, driven by food and energy prices, before easing to 2% next year. Its underlying component would reach 5.2% in 2022 and then return to 2.5% in the following year. Meanwhile, the economic growth is seen falling to 1% this year due to drought, before improving to 4% next year, compared with 7.9% in 2021. Drought has reduced Morocco's cereals harvest this year by 69% to 3.2 million tonnes from last year, according to agriculture ministry forecasts. source: Bank Al-Maghrib
Interest Rate in Morocco averaged 3.54 percent from 1995 until 2022, reaching an all time high of 7 percent in August of 1995 and a record low of 1.50 percent in June of 2020. This page provides the latest reported value for - Morocco Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Morocco Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2022.
Interest Rate in Morocco is expected to be 1.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Morocco Interest Rate is projected to trend around 1.25 percent in 2023, according to our econometric models.