Bank Al-Maghrib has kept Morocco’s key interest rate at 2.25% following its third quarterly meeting of 2026 in Rabat, citing continued uncertainty around the economic outlook and moderate inflation. The central bank expects Morocco’s economy to grow 4.4% in 2026, down from 4.9% in 2025, before slowing to 2.9% in 2027. Inflation is forecast at 0.7% this year and 1.5% next year. BAM also expects the energy import bill to rise 28.4% to MAD 138.1 billion in 2026. Meanwhile, HCP data showed Morocco created 406,000 jobs year-on-year in Q2, while the national unemployment rate fell to 9.5%. #Morocco #BankAlMaghrib #BAM #InterestRates #MoroccoEconomy #Inflation #EconomicGrowth #Jobs #Unemployment #mwn