Morocco’s Central Bank keeps interest rate unchanged
Morocco’s Central Bank held its benchmark interest rate at 3.25 per cent on Tuesday, citing a lack of monetary pressures on generally stable prices and resilience in an economy reliant on agriculture and tourism.
“In this context where … inflation forecast is consistent with the price stability objective and the balance of risks is slightly tilted to the upside, the (Central Bank’s) board has decided to keep the key rate unchanged at 3.25 per cent,” Bank al-Maghrib said in a statement.
The statement was issued on the bank’s website after a quarterly meeting of its policy making board that examined economic, monetary, and financial developments and inflation forecasts prepared by the bank up to the second quarter of 2012.
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