Rabat - The governor of Morocco's central Bank "Bank Al Maghrib", ruled out any domestic or external inflation pressure, stressing that inflation will continue to evolve at "relatively" low levels with a sound balance of risks.
Rabat – The governor of Morocco’s central Bank “Bank Al Maghrib”, ruled out any domestic or external inflation pressure, stressing that inflation will continue to evolve at “relatively” low levels with a sound balance of risks.
BAM’s governor, who was speaking at a press conference following the Bank’s council meeting, expected inflation to stand at 0.4pc for all of 214, as a result of the rise in the minimum wages, the revisions of water and electricity prices and the expected oil products rates.
In 2015, inflation will reach 1.2pc and increase to 1.3pc in the first three months of 2016, he went on.
Consequently, he said, the Bank has decided to lower once again by 25 points the interest rates to 2.5pc, after last September’s decrease from 3pc to 2.75pc.
The bank explained that this “historic” decrease also seeks to fulfill the goal of maintaining the budget deficit at sound levels and continuing to improve the exchange reserves while supporting economic activity recovery.