Morocco central bank holds benchmark interest rate at 2.25%

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RABAT (Reuters) – Morocco’s central bank kept its benchmark interest rate unchanged at 2.25 on Tuesday, saying current borrowing costs were in line with the medium-term prospects of inflation, growth and public finances.

Inflation is expected to slow to 0.7% in 2019 from 1.9% last year on the back of a drop in food prices, before picking up to 1.2% in 2020 as domestic demand improves, the bank said in a statement following its board meeting.

Reporting By Ahmed El Jechtimi, editing by Angus McDowall

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