At its meeting on 22 September 2026, the Board of Bank Al-Maghrib kept its policy rate unchanged at 2.25%, the level reached after the March 2025 cut.
The policy rate is the price at which the central bank lends to commercial banks. With a lag, it affects rates on mortgages and consumer loans, as well as returns on savings.
At the same time, the central bank lowered its forecasts: growth is now expected at 4.4% in 2026 (against 5.2% forecast in June) and inflation at 0.7% (against 1.5%). Next decision: 15 December 2026.
Source: Boursenews, citing Bank Al-Maghrib, September 22, 2026.