March 17, 2020 / 12:57 PM / in 15 days

Morocco’s central bank cuts benchmark interest rate to 2%

RABAT, March 17 (Reuters) - Morocco’s central bank cut its benchmark interest rate on Tuesday by 25 basis points to 2%, citing drought and the impact of the coronavirus outbreak.

The bank also revised downwards its 2020 growth forecasts to 2.3% from 3.8%. Morocco’s economy grew by 2.3% in 2019. (Reporting by Ahmed Eljechtimi; Editing by Alex Richardson)

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