The National Bank of Morocco left its monetary policy rate steady at 1.5% at its September 2020 meeting, amid a deteriorating economic outlook and low inflationary pressures. Policymakers also considered that the economy financing conditions remain adequate after enacting a host of mitigating measures to cushion the impact of the global pandemic. The bank noted that consumer prices rebounded by 0.9% in August driven by volatile food prices; but inflation is expected to remain low, averaging 0.4% in 2020 (vs 1% estimated in June) before speeding up moderately to 1% in 2021. The economy is now projected to contract 6.3% in 2020 (vs -5.2% estimated in June), owing to a slower-than-expected recovery of activity amid the implementation of restrictions following the resurgence of infections and the continued closure of borders. In 2021, the GDP would rebound by 4.7%, assuming improvements in both agricultural and non-agricultural activities. source: Bank Al-Maghrib
Interest Rate in Morocco averaged 3.69 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 October of 2020.
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.