RABAT, Sept 20 (Reuters) – Morocco’s central bank held its benchmark interest rate at 3.25 percent on Tuesday.
“In this context where the central inflation forecast is permanently consistent with the price stability objective and the balance of risks is tilted to the downside, the Board decided to keep the key rate unchanged at 3.25 percent,” the bank said in a statement.
The central bank, officially known as Bank al-Maghrib, has kept rates on hold since March 2009, when it cut them by 25 basis points to 3.25 percent.
Inflation in Morocco jumped to 2.2 percent in August, staying above the central bank’s full-year forecast of 1.4 percent for two straight months. (Reporting by Souhail Karam; Editing by Ron Askew)
(; editing by Ron Askew)
