The National bank of Morocco held its benchmark interest rate at 1.5% at its October 2021 meeting, saying the monetary policy stance remains very accommodative, thereby ensuring adequate financing conditions. Policymakers noted the significant progress Morocco made in vaccination, as well as the ongoing recovery in economic activity and the evolution of inflation at moderate levels despite some increase in external inflationary pressures. The bank revised upwards this year's growth forecast to 6.2% instead of an initial expectation of 5.3% and compared to a 6.3% contraction in 2020, driven by the notable progress in the vaccination campaign, the very good agricultural campaign as well as the fiscal stimulus. Inflation is expected to stand at 1.2% this year and 1.6% next year, from 0.7% in 2020, source: Bank Al-Maghrib
Interest Rate in Morocco averaged 3.59 percent from 1995 until 2021, 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 October of 2021.
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 1.50 percent in 2022 and 2.00 percent in 2023, according to our econometric models.