Morocco's Central Bank Holds Rates Steady Despite Growth Forecast Cut

Bank Al-Maghrib has maintained its key interest rate at 2.25% while cutting both growth and inflation forecasts for 2026 by 0.8 percentage points. The central bank now expects GDP growth of 4.4% instead of 5.2%, attributing the downward revision to supply chain disruptions affecting manufacturing and extractive industries. Despite lower projections, BAM emphasizes that domestic demand remains resilient and the adjustments reflect temporary supply shocks rather than fundamental economic weakness.

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