Central Banks
Morocco Surprises With Rate Cut on Signs Inflation Under Control
Morocco has tamped down inflation that surged to a record in 2023.
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Morocco’s central bank cut interest rates for a second consecutive meeting, voicing optimism that inflation is under control even as Donald Trump’s protectionist policies roil global trade.
Bank al-Maghrib reduced the key interest rate to 2.25% from 2.5% at its latest quarterly policy meeting on Tuesday. The move was a surprise, after two of the kingdom’s main lenders predicted a hold. The regulator made its first rate cuts in four years in June and December 2024.