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Bank of Morocco Keeps Rates, Lowers Inflation Outlook

Morocco's Central Bank report focused on maintaining the main interest rate at 2.25%, despite ongoing economic uncertainty. It also lowered its inflation forecast for 2026 to 0.7% from 1.5% and projected economic growth of 4.4% this year, influenced by rising energy costs and a slowdown in non-agricultural activities. Additionally, the report indicated that inflation reached 0.3% in the first eight months of 2026, with an expected decline of 0.2% over the year before returning to 2.2% in 2027. This outlook reflects a gradual recovery in some sectors and improvements in the labor market.

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