Cut in the key rate to 2.75%: The decision will take effect from June 27

Hibapress

The decision of the Board of Bank Al Maghrib (BAM) to reduce the key rate to 2.75% will take effect from June 27, 2024, announces the Central Bank in a press release.

During its second quarterly meeting for the year 2024, the BAM Board decided to reduce the key rate by 25 basis points (pbs) to 2.75%, taking into account the very notable progress in terms of return of inflation at levels in line with the objective of price stability and preservation of the post-covid recovery of economic activity.

The Council confirms that it will continue to closely monitor developments in the economic situation and inflation both nationally and internationally.

During this meeting, the BAM Board analyzed the evolution of the national and international situation, as well as BAM’s medium-term macroeconomic projections.