March 25, 2014 / 4:57 PM / 4 years ago

Morocco central bank cuts banks' reserve requirement

RABAT, March 25 (Reuters) - Morocco’s central bank cut banks’ reserve requirement to 2 percent from 4 percent on Tuesday, citing a shortage of liquidity, the bank’s governor, Abdellatif Jouahri, said.

“We are ready to cut it to zero if the market needs that,” the governor told a news conference after the bank’s quarterly policy meeting.

The bank kept its benchmark interest rate at 3 percent, forecasting inflation would stay in line with its medium-term target. (Reporting by Aziz El Yaakoubi; Editing by Susan Fenton)

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