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Morocco Interest Rate

Morocco's interest rate remained stable at 2.25% in July 2025 and continued at 2.25% in September 2025. Bank Al-Maghrib maintained this policy to ensure price stability with inflation expected around 1% for 2025. The central bank also backs economic growth. This is shown by accelerated non-agricultural sectors due to infrastructure investment. These choices are made despite global and domestic uncertainties. They balance economic expansion with stable inflation expectations. Morocco's record low interest rate was 1.5% in June 2020 and record high was 3% in March 2023.

Historical Data (2015-2025)

(in %)
Date Interest Rate
Sep 23, 2025 2.25%
Jul 31, 2025 2.25%
Jun 24, 2025 2.25%
Apr 30, 2025 2.25%
Mar 18, 2025 2.25%
Jan 31, 2025 2.5%
Dec 17, 2024 2.5%
Oct 31, 2024 2.75%
Sep 24, 2024 2.75%
Jul 31, 2024 2.75%
Jun 25, 2024 2.75%
Apr 30, 2024 3%
Mar 19, 2024 3%
Jan 31, 2024 3%
Dec 19, 2023 3%
Oct 31, 2023 3%
Sep 26, 2023 3%
Jul 31, 2023 3%
Jun 20, 2023 3%
Apr 30, 2023 3%
Mar 21, 2023 3%
Jan 31, 2023 2.5%
Dec 20, 2022 2.5%
Oct 31, 2022 2%
Sep 27, 2022 2%
Jul 31, 2022 1.5%
Jun 21, 2022 1.5%
Apr 30, 2022 1.5%
Mar 22, 2022 1.5%
Jan 31, 2022 1.5%
Dec 21, 2021 1.5%
Jul 31, 2021 1.5%
Jun 22, 2021 1.5%
Apr 30, 2021 1.5%
Mar 23, 2021 1.5%
Jan 31, 2021 1.5%
Dec 15, 2020 1.5%
Oct 31, 2020 1.5%
Sep 22, 2020 1.5%
Jul 31, 2020 1.5%
Jun 16, 2020 1.5%
Apr 30, 2020 2%
Mar 17, 2020 2%
Jan 31, 2020 2.25%
Dec 17, 2019 2.25%
Oct 31, 2019 2.25%
Sep 24, 2019 2.25%
Jul 31, 2019 2.25%
Jun 18, 2019 2.25%
Apr 30, 2019 2.25%
Mar 19, 2019 2.25%
Jan 31, 2019 2.25%
Dec 19, 2018 2.25%
Oct 31, 2018 2.25%
Sep 26, 2018 2.25%
Jul 31, 2018 2.25%
Jun 20, 2018 2.25%
Apr 30, 2018 2.25%
Mar 21, 2018 2.25%
Jan 31, 2018 2.25%
Dec 19, 2017 2.25%
Oct 31, 2017 2.25%
Sep 26, 2017 2.25%
Jul 31, 2017 2.25%
Jun 20, 2017 2.25%
Apr 30, 2017 2.25%
Mar 21, 2017 2.25%
Jan 31, 2017 2.25%
Dec 16, 2016 2.25%
Oct 31, 2016 2.25%
Sep 23, 2016 2.25%
Jul 31, 2016 2.25%
Jun 17, 2016 2.25%
Apr 30, 2016 2.25%
Mar 22, 2016 2.25%
Jan 31, 2016 2.5%
Dec 22, 2015 2.5%
Oct 31, 2015 2.5%
Sep 22, 2015 2.5%

Recent Events

datetime event actual previous consensus
2025-09-23 09:40 AM Interest Rate Decision 2.25% 2.25% -

Next Release Date :

Morocco Interest Rate : Definition
The Interest Rate set by the Bank Al-Maghrib is the benchmark cost of borrowing in the economy. It influences lending, spending, investment, inflation, and overall financial stability.
Indicator Last Value Prior Value Period
Current Account to GDP Ratio -1.6% -2.8% Dec'24
Debt to GDP Ratio 70% 69.5% Dec'24
Private Credit (% GDP) 81.41% 87.73% 2023