Mubasher: Morocco’s central bank, or Bank Al Maghrib, kept the interest rate unchanged at 2.25%, stating that inflation is expected to be in line with the targeted price stability.
The bank raised local banks’ required reserves to 5% up from 2%, citing structural enhancement in banking liquidity.
Bank Al Maghrib has reduced the main interest rate to 2.25% from 2.5% in March, the first reduction in over a year. This step aimed to protect economic growth amid one of the worst drought waves in the last ten years.
