Morocco cuts interest rates after a year of holding
Inflation now below 1% due to lower food prices and tighter monetary policy
Morocco’s central bank cut its key interest rate by 25 basis points to 2.75% on June 25, its first rate move in over a year.
Inflation has come down to low levels in recent months, driven by easing external pressure and lower food prices, the Central Bank of Morocco said.
Morocco’s inflation peaked at 10.1% in February 2023, averaging 6.1% over the year. It has since come down to just 0.4% in May 2024, up slightly from 0.2% in April.
The Central Bank of Morocco’s last rate change saw it raise its
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