The National Bank of Morocco left its monetary policy rate steady at 2.25% at its December 17th 2019 meeting, even after King Mohammed VI urged banks to raise lending. Policymakers noted that inflation, which stood at 1.9% in 2018, decelerated sharply in the first ten months of 2019, mainly due to food prices; and it is expected to end 2019 averaging 0.3%, before picking up to 1.1% in 2020 and 1.4% in 2021. Meantime, core inflation is estimated to increase to 0.6% this year, and then advance to 1.3% in 2020 and 1.9% in 2021. Regarding growth, the economy is projected to slow to 2.6% in 2019 (previously seen at 2.7%) from 3% in 2018, with agriculture shrinking 4% (vs 4% in 2018) due to a lack of rainfall while non-agricultural activity rising 3.3% (vs 2.6% in 2018); but it should accelerate to 3.8% in 2020 and 3.7% in 2021, assuming improvements in cereals production and non-agricultural output.
Interest Rate in Morocco averaged 3.74 percent from 1995 until 2019, reaching an all time high of 7 percent in August of 1995 and a record low of 2.25 percent in March of 2016. 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. source: Bank Al-Maghrib
Interest Rate in Morocco is expected to be 2.25 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 2.00 in 12 months time. In the long-term, the Morocco Interest Rate is projected to trend around 2.00 percent in 2020, according to our econometric models.