Morocco’s Bank Al-Maghrib reduces key interest rate to 2.5%

At the conclusion of the fourth and final quarterly meeting for the 2024, the Bank Al-Maghrib Board decided to “reduce the key interest rate by 25 basis points to 2.5%.” In a press release following the meeting, reviewed by local media, the Board explained that this decision was made “considering the evolution of inflation levels in line with the price stability target, and in light of significant uncertainties regarding medium-term prospects, especially internationally,” concluding with the “reduction of the key interest rate by 25 basis points to 2.50%.”