The National Bank of Morocco kept its monetary policy rate steady at 1.5% at its December 2020 meeting, saying that the monetary policy stance is widely accommodative, ensuring an adequate financing of the economy. Policymakers noted that after weakening in the second quarter, inflation accelerated sharply from August onwards, driven mainly by the surge in volatile food prices. Still, it is seen at 0.7% in 2020 and 2021, before reaching 1.3% in 2022, mainly as a result of the expected improvement in domestic demand. The economy is projected to contract 6.6% this year, amid the Covid-19 restrictive measures and a decline in farm output hit by drought. The GDP is projected to rebound by 4.7% in 2021 and to grow by 3.5% in 2022. source: Bank Al-Maghrib
Interest Rate in Morocco averaged 3.68 percent from 1995 until 2020, 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 January 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. Looking forward, we estimate Interest Rate in Morocco to stand at 1.50 in 12 months time. In the long-term, the Morocco Interest Rate is projected to trend around 1.50 percent in 2021 and 2.00 percent in 2022, according to our econometric models.