On Tuesday, December 17, 2024, the Board of Bank Al-Maghrib (BAM) held its final quarterly meeting of the year, where it announced a 25-basis-point cut to the key interest rate, bringing it down to 2.5%.
During this session, BAM carefully reviewed the latest developments in the national and global economic landscape and assessed its medium-term macroeconomic projections.
In a statement following the meeting, Bank Al-Maghrib explained its decision: “Given the evolution of inflation, which remains consistent with our price stability objective, and considering the significant uncertainties surrounding medium-term prospects—particularly at the international level—the Board has decided to lower the key interest rate by 25 basis points to 2.5%.”
The central bank further emphasized its vigilance, stating that it will closely monitor economic developments and make decisions on a meeting-by-meeting basis, using the most up-to-date data available.
The decision signals BAM’s proactive approach to balancing economic stability and supporting growth amid persistent global uncertainties. The reduction in the key interest rate aims to provide monetary easing, potentially stimulating domestic investment and economic activity while ensuring that inflation remains under control.
