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Morocco Interest Rate


Calendario GMT Efettivo Precedente Consenso
2019-03-19 12:45 PM 2.25% 2.25%
2019-06-18 01:35 PM 2.25% 2.25%
2019-09-24 12:30 PM 2.25% 2.25%
2019-12-17 01:00 PM 2.25% 2.25%
2020-03-17 01:00 PM 2.25%


News Stream
2019-09-24
Morocco Leaves Key Interest Rate Steady at 2.25%
The National Bank of Morocco held its policy rate unchanged at 2.25% at its September 24th 2019 meeting. The bank noted that inflation remains low, averaging 0.2% during the first eight months of the year, mainly due to lower food prices; and it is expected to remain subdued in the coming months, easing to 0.4% in 2019 (previously seen at 0.6%) from 1.9% in 2018, before rising to 1.2% in 2020, driven by the expected recovery of internal demand. Regarding growth, the economy is projected to slow to 2.7% in 2019 (previously seen at 2.8%) from 3% a year ago, mainly due to agricultural activity; but to quicken to 3.8% in 2020, as agricultural output is expected to grow 6.3%. The Board also decided to reduce the monetary reserve rate to 2% from 4%, to boost banking liquidity and confirmed that will issue 2 international bonds this year and next year that would boost international reserves to 239 billion dirhams in 2019 and 234.3 in 2020, enough to cover five months of imports.

2019-06-18
Morocco Leaves Interest Rate Steady at 2.25%
The National Bank of Morocco held its monetary policy rate unchanged at 2.25% at its June 18th 2019 meeting. The bank noted that inflation was low during the first four months of the year; and it is expected to ease to 0.6% in 2019 from 1.9% in 2018, before rising to 1.2% in 2020, amid greater domestic demand. Linked to this, the government announced in late April a general increase in the minimum wages, with salaries in the private sector rising 10% over two years, with a 5% hike taking effect in July 2019 and a further 5% increase in July 2020. The economy is projected to slow to 2.8% in 2019 from 3% a year earlier, mainly due to lower agricultural output; but to speed up to 4% in 2020, as agriculture activity must rebound sharply, growing 6%.

2019-03-19
Morocco Holds Key Interest Rate Steady at 2.25%
The National Bank of Morocco left its monetary policy rate unchanged at 2.25% at its March 19th 2019 meeting. Policymakers said that the decision was based on medium-term prospects for the inflation rate trajectory, the economy and external accounts. The inflation ended 2018 at an average of 1.9%, mainly due to the rise in volatile food prices; and it is expected to be 0.6% in 2019 and 1.1% in 2020. The Board also noted a lower level of activity at 3% in Q3 2018 and projected a growth of 3.1% in 2018; 2.7% in 2019 and 3.9% in 2020. Agricultural activity is expected to fall 3.8% in 2019 and to rise 6% in 2020 while non-agricultural growth should accelerate to 3.4% in 2019 and 3.8% in 2020. Regarding external accounts, the current account gap worsened to 5.2% of GDP in 2018 from 3.6% a year earlier and it is expected at 4.1% in 2019 and 3.4% in 2020, particularly owing to an expected decline in energy imports and fewer capital goods purchases.

Marocco Soldi Ultimo Precedente Massima Più Basso Unità
Tasso Di Interesse 2.25 2.25 7.00 2.25 Percentuale [+]
Offerta di Moneta M1 880772.00 877871.00 880772.00 35506.00 Mad Million [+]
Offerta di Moneta M2 1046410.00 1043064.00 1046410.00 38311.00 Mad Million [+]
Offerta di Moneta M3 1344352.00 1344019.00 1349309.00 51850.00 Mad Million [+]
Riserve valutarie 246817.00 238968.00 257387.00 52221.00 Mad Million [+]
Bilancio de Banche 1402065.00 1421645.00 1421645.00 360422.93 Mad Million [+]
Deposito Di Tasso D'Interesse 3.10 3.10 8.50 3.10 Percentuale [+]
Bilancio della Banca Centrale 326476.15 342535.28 342535.28 118725.88 Mad Million [+]
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