Following its fourth and final quarterly meeting for the 2024 financial year, the Bank Al-Maghrib Board decided, on Tuesday afternoon, to “reduce the key interest rate by 25 basis points to 2.5%.”
In a press release following the meeting, which was reviewed by Hespress, the Board explained that this decision was made “considering the evolution of inflation levels in line with the price stability target, and in light of significant uncertainties regarding medium-term prospects, especially internationally,” concluding with the “reduction of the key interest rate by 25 basis points to 2.50%.”
The central bank announced that it “will continue to closely monitor the development of the economic situation and will base its decisions in each meeting on the most up-to-date data.”
Regarding the “impact of the Board’s decisions,” the source noted that “after the reduction of the key interest rate in June, loan interest rates recorded a quarterly decrease of 22 basis points, which includes a 25 basis point reduction for businesses and near stability for individuals.”
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