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Quick View: Moroccan Policy Rate On Hold In 2024

Country Risk / Morocco / Wed 20 Dec, 2023

Latest Development: As we had expected, Al Maghrib (BAM) kept its benchmark policy rate at 3.00% for the third consecutive quarter on 19 December. Meanwhile, on December 20, the Haut Commissariat Au Plan released figures showing that inflation decelerated from 4.3% y-o-y in October to 3.6% in November.

BAM Keeps Policy Rate On Hold
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Extent Of Fiscal Response Poses Uncertainty For The Trajectory Of Moroccan Growth Following The Earthquake

Country Risk / Morocco / Tue 12 Sep, 2023

Key View

  • We have revised down our forecast for Morocco’s GDP growth for 2023 from 2.4% to 1.8% as we expect damage from the September 8 earthquake will disrupt economic activity and decrease tourist inflows.
  • We think that the significant extent of the damage and the government’s constrained ability to significantly ramp up investment in
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One More Rate Hike In Morocco In H223 Despite Slowing Inflation

Country Risk / Morocco / Wed 23 Aug, 2023

Key View

  • We now expect that Bank Al Maghrib (BAM) will hike its policy rate by 50bps to 3.50% in September and hold it in December as inflation continues to decelerate and domestic demand remains relatively sluggish.
  • We expect sticky inflation and a negative interest rate differential with the European Central Bank will provide impetus for
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Multiple Headwinds To Curb Morocco's Economic Rebound In 2023

Country Risk / Morocco / Mon 03 Apr, 2023

Key View: At Fitch Solutions, we have cut our 2023 forecast for Morocco’s real GDP growth from 3.4% to 1.8% as we expect accelerating inflation, more aggressive monetary tightening, and a tamed recovery in agricultural output to weigh more heavily on growth than we had previously anticipated. The revision follows the Q422 GDP release which

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