The National Bank of Morocco trimmed its monetary policy rate by 50 bps to 1.5% during its June 2020 meeting, saying the decision aims to mitigate the impact of the pandemic and support economic recovery amid a lack of inflationary pressure. Policymakers noted that the headline inflation fell further to 0.9% in April, mainly due to the lower prices of fuels and lubricants; and it is expected to remain at a moderate level of around 1% in both 2020 and 2021. The economy is seen contracting 5.2% in 2020, the most since 1996, due to the combined effect of drought and the restrictions adopted to limit the spread of Covid-19. Growth is expected to rebound to 4.2% in 2021, assuming improvements in both agricultural and non-agricultural activities. In the face of high uncertainty posed by the pandemic, the Committee said it will closely monitor the economic situation both at the domestic and international levels and take necessary actions if needed.
Interest Rate in Morocco averaged 3.71 percent from 1995 until 2020, 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 2020. source: Bank Al-Maghrib
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. Looking forward, we estimate Interest Rate in Morocco to stand at 1.00 in 12 months time. In the long-term, the Morocco Interest Rate is projected to trend around 1.50 percent in 2021 and 2.00 percent in 2022, according to our econometric models.