Moroccan Bank holds rates, raises inflation outlook
The Bank of Morocco maintained its key interest rate at 2.25% during its June 2026 meeting, with expectations that average inflation will rise to 1.5% in 2026 and 2.1% in 2027 due to higher energy prices resulting from the Middle East conflict, despite core inflation remaining steady at 0.2%. The bank also anticipates economic growth declining from 4.9% in 2025 to 3.1% in 2027, amid ongoing increases in oil and phosphate prices, improved tourism revenues, and a growing current account deficit.
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