Financial investors expect Bank Al Maghrib to leave its benchmark interest rate unchanged at its first monetary policy meeting of the year on Tuesday, according to Attijari Global Research.
In its March survey, AGR said it found an almost unanimous consensus among Moroccan investors in favour of keeping the central bank’s key rate steady at the March 17 meeting.
Based on responses from a sample of 35 investors considered among the most influential in Morocco’s financial market, AGR said the probability of a status quo stood at 99%, compared with just 1% for a 25 basis point increase. The survey assigned no probability to a rate cut.
AGR said local institutional investors and reference market participants were unanimous in expecting no change.
Foreign investors assigned a 99% probability to a steady rate and 1% to a 25 basis point increase, while individual investors saw a 96% chance of no change and a 4% chance of a hike.
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