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Moroccan central bank holds benchmark interest rate at 2.25%

BY Reuters | ECONOMIC | 09:16 AM EDT

RABAT, June 23 (Reuters) - Morocco's central bank held its benchmark interest rate steady at 2.25% on Tuesday, judging that inflation was on track to meet its medium-term price stability target supported by improved economic growth.

Inflation is expected to average 1.5% in 2026, before picking up to 2.1% in 2027, after hovering around 0.8% over the previous two years, the central bank said after its quarterly meeting.

It cited the impact of the Middle East conflict on energy costs, with fuel prices rising 27.6% year-on-year in May and adding to imported inflation pressures. (Reporting by Ahmed Eljechtimi; Editing by Aidan Lewis)

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