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BAM: Morocco keeps benchmark interest rate steady at 2.25 pct

Morocco’s central bank left its benchmark interest rate unchanged at 2.25 percent on Tuesday, saying current borrowing costs are in line with medium-term inflation and growth prospects.

Inflation, triggered mainly by food prices, is expected to stand at 2 percent in 2018 before easing to 1 percent in 2019 and 1.2 percent in 2020, the central bank, known as Bank Al Maghrib, said in a statement.

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