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Markets News

Morocco keeps benchmark interest rate unchanged at 2.25% - central bank

Rabat, Dec 17 (Reuters) - Morocco’s central bank maintained its key interest rate unchanged at 2.25%, saying current borrowing costs were in line with inflation, growth and the public finances medium-term forecasts. Inflation would average 0.3% in 2019 after 1.9% in 2018 before picking up to 1.1% in 2020, the bank said in a statement after its quarterly board meeting. Gross domestic product would slow to 2.6% in 2019 after 3% in 2018 because of lower farm output caused by a lack of rainfall, the bank said. (Reporting by Ahmed Eljechtimi; Editing by Jon Boyle)

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