Morocco’s central bank has cut the benchmark interest rate to 2.25%, the third consecutive reduction, to promote economic growth and job creation. The inflation is projected to be moderate at 2% for this year and the next, according to a statement from the bank.
On Tuesday, Morocco’s central bank reduced its benchmark interest rate by 25 basis points, bringing it to 2.25%. This marks the third consecutive cut in the interest rate, reflecting the bank’s assessment of the economic landscape. The decision aims to bolster economic growth and job creation while aligning with the projected inflation rate.
The bank anticipates that inflation, predominantly driven by food prices, will remain “moderate” at approximately 2% for both this year and the next. This outlook was communicated through a statement issued following the bank’s quarterly board meeting, highlighting its commitment to fostering a conducive economic environment.
In summary, Morocco’s central bank has lowered its benchmark interest rate to 2.25%, aiming to stimulate growth and employment. The expectation of moderate inflation at 2% in the near future underscores the rationale behind this decision. This marks a strategic move in response to ongoing economic dynamics.
Original Source: www.tradingview.com
