The National bank of Morocco maintained its benchmark interest rate at 1.5% at its June 2021 meeting, saying the current monetary policy stance remains very accommodative, thereby ensuring adequate financing conditions. The Board noted that inflation averaged 1.7% during April and May after recording 0.7% in 2020 and 0.1% in the first quarter of 2021. The recent acceleration in inflation is likely to continue, although at a moderate pace, with the CPI inflation standing at 1% this year before picking up to 1.2% in 2022, amid the expected rise of oil and some food international prices, as well as the revival of domestic demand. The economy is projected to have contracted by 6.3% in 2020 compared to an earlier estimate of -7.1%, while growth projections for 2021 stood unchanged at 5.3%. Still, the Bank stressed the outlook remains surrounded by high uncertainties due mostly to the emergence of new variants of the virus and disparities in the pace of vaccination across countries.
. source: Bank Al-Maghrib
Interest Rate in Morocco averaged 3.62 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 September 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.