Moroccan central bank keeps benchmark interest rate steady at 2.25%
Inflation would average 1% in 2025, following a drop in food prices, before ticking up to 1.8% next year, the bank said in a statement following its quarterly board meeting.
The forecast remains shrouded in "uncertainty", the bank said citing trade policies, repercussions of geopolitical conflicts and the performance of the domestic farming sector.
(Reporting by Ahmed Eljechtimi; Editing by Alison Williams)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
3 hours ago
- Zawya
AfDB offers Morocco $116mln loan to support sustainable agriculture
The African Development Bank said on Monday it approved a loan worth 100 million euros ($116.4 mln) to support sustainable farming led by women and young people in Morocco. The financing is intended to boost food security, and strengthen the resilience of small-scale farming against climate change, the AFDB said in a statement. "Women who have the ambition to undertake and succeed in agriculture are our priority," said Achraf Tarsim, the head of the AfDB office in Morocco. Over five decades, the AfDB has invested 15 billion euros ($17.46 billion) in projects, including transport, water, energy, farming, social protection, governance and finance. ($1 = 0.8590 euros) (Reporting by Ahmed Eljechtimi, Editing by Louise Heavens)
Zawya
4 hours ago
- Zawya
Morocco: African Development Bank approves €100 Million to empower women and youth entrepreneurs in building inclusive and sustainable agriculture
The Board of Directors of the African Development Bank Group ( has approved a €100 million loan to support Morocco's inclusive solidarity-based agriculture program, focused on empowering women and young people. The project aims to generate sustainable economic opportunities for women and youth, boost food security, and strengthen the resilience of small-scale farming against climate change. It will stimulate entrepreneurship through tailored financing and incentive mechanisms and by bolstering technical and financial support systems. The program will also facilitate the deployment of new agricultural production and service infrastructure, helping to anchor women in local value chains, strengthen their skills, and boost their productivity. These actions will encourage the emergence of women entrepreneurs across agriculture, agro-processing and digital technologies. It will support the new roadmap for employment by promoting rural entrepreneurship. "Women who have the ambition to undertake and succeed in agriculture are our priority," said Achraf Tarsim, head of the African Development Bank country office in Morocco. 'Through this new operation, we will support them step by step to build a modern, inclusive and resilient agriculture, capable of revealing the full potential of those who aspire to innovate and create value and employment in their territories." Aligned with Morocco's priorities, the program will support the implementation of the Green Generation 2020-2030 Strategy, Morocco's plan for transforming agriculture into a more inclusive, sustainable and efficient sector; the National Solidarity Agriculture Program, and the National Youth Entrepreneurship Program. For more than 50 years, the African Development Bank Group has supported the Kingdom in a partnership based on a shared and integrated vision of development. Over the period, the Bank invested nearly €15 billion in more than 150 high-impact projects in strategic sectors such as transport, water, energy, agriculture, social protection, governance and finance. Distributed by APO Group on behalf of African Development Bank Group (AfDB). About the African Development Bank Group: The African Development Bank Group is Africa's premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information:
Zawya
7 hours ago
- Zawya
Reviewing Egypt's Economic Scene in H1 2025
Over the past few years, the Egyptian economy has faced many hurdles that negatively impacted its overall performance. These headwinds, mainly stemming from regional conflicts, continued during the first half (H1) of the current year, affecting key economic indicators. In this factsheet, we will monitor and analyze recent developments in Egypt's key monetary indicators, including inflation, exchange rate movements, interest rate trends, and other related variables, to provide a clearer picture of the current economic landscape. During H1 2025, the Central Bank of Egypt's (CBE) Monetary Policy Committee (MPC) cut the interest rates twice, in April and May, by a total of 3.25%. Accordingly, the overnight deposit rate, overnight lending rate, main operation rate, and discount rate stood at 24%, 25%, 24.50%, and 24.5%, respectively. In January, Egypt's annual headline inflation rate recorded 23.95%. The rate continued to decline over the following months, reaching 14.9% in June. Notably, February saw a sharp drop to 12.84%, primarily due to a favorable base effect and stable monthly price trends. The USD to EGP exchange rate averaged EGP 50.51 during the first six months of the year. It declined from EGP 50.46 in January to EGP 50.07 in June. In April, the exchange rate surged to an average of EGP 51.12, amid global economic uncertainty and US tariff measures. Egypt's net international reserves (NIR) increased from $47.3 billion in January to $48.7 billion in June, reflecting an overall growth rate of 3%. Meanwhile, gold reserves, a key component of NIR, grew by 19% during H1 2025. In its first meeting in 2025, the Automatic Fuel Pricing Committee raised fuel prices by around 15%. Octane-fuel prices now range between EGP 15.75 and EGP 19 per liter, while diesel prices increased from EGP 13.5 to EGP 15.5 per liter. Gold started the year with an average price of the 21-karat at EGP 3,815 per gram. The price increase continued, recording a peak of EGP 4,734 in June following the start of the Iran-Israel War. This represented a 25% increase since the beginning of 2025. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
