The Central Bank of Morocco, Bank Al-Maghrib, has issued a recent statement announcing that the benchmark interest rate will be decreased from 2.75% to 2.5%, registering a second consecutive cut.

It should be noted that such cut came in three months, after it had lowered the benchmark interest rate, last September, from 3% to 2.75%, reported the Lebanese Al Joumhouria.

Such decision was made to keep the Moroccan fiscal deficit at sustainable levels, and to improve foreign exchange reserves, in a bid to fuel a rebound in economic activity.

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