FX.co ★ Morocco Keeps Policy Rate Untouched at 2.25%

The National Bank of Morocco decided to keep its key interest rate steady at 2.25% during its scheduled meeting on September 23, 2025, in light of ongoing uncertainties both globally and domestically. The bank's policymakers noted that inflation continues to develop at moderate levels, with expectations solidly anchored. The inflation forecast remains at 1% for this year, consistent with both 2024 and the prediction from the prior meeting. It is anticipated to rise marginally to 1.9% in 2026, a slight adjustment upward from the earlier estimate of 1.8%. Economic growth projections remain unchanged, with expected growth from 3.8% in 2024 to 4.6% in 2025, followed by a slight moderation to 4.4% in 2026.