According to a survey by Attijari Global Research (AGR), 93% of financial investors expect Bank Al-Maghrib (BAM) to maintain its key interest rate unchanged at the upcoming monetary policy meeting on June 23, 2026. The survey, conducted among market participants, reflects a strong consensus for stability amid current economic conditions.
The central bank's key rate currently stands at 3%, a level set after a series of cuts in 2024 and 2025 aimed at supporting economic growth. Inflation in Morocco has moderated, with the annual rate falling to 1.2% in May 2026, down from a peak of 10.1% in February 2023.
Analysts point to subdued inflationary pressures and a need to sustain economic recovery as reasons for the anticipated hold. The International Monetary Fund projects Morocco's GDP growth at 3.5% for 2026, up from 3.2% in 2025.
The decision will be announced following the meeting of BAM's Board of Directors. A minority of 7% of investors surveyed expect a further rate cut of 25 basis points.
