Inflation in Morocco is expected to average 0.7 percent in 2020 and accelerate to 1.2 percent in 2021, Morocco's central bank (Bank Al-Maghrib) said Tuesday.
Inflation "is expected to average 0.7 percent over the year as a whole and to accelerate to 1.2 percent in 2021, with a gradual increase of its underlying component from 0.6 percent in 2019 to 1 percent then to 1.3 percent in 2021," the bank pointed out.
The statements came in a release issued following the first quarterly meeting of the year held by the central bank's board.
Meanwhile, the central bank decided to introduce 25 basis points of interest cut to reach 2 percent.
In its statement, the bank noted that the board held on March 17 its quarterly meeting and decided to drop the interest rate to support the national economy.
