Morocco's economy and financial markets
Key indicators of Morocco's economy and financial system, updated automatically: interest rates, national and city inflation, quarterly growth, stock market, bank soundness and exposure to climate risk.
2.25 % policy rate, September 2026
Updated : 6 November 2026
Latest values
1 Interest rates and monetary policy
The policy rate comes from the IMF "discount rate" series, which tracks Bank Al-Maghrib's decisions (3%, then 2.75% in June 2024, 2.50% in December 2024 and 2.25% in March 2025). Monthly values.
2 Inflation
Food prices vary more than the overall index: they depend on farm seasons and import prices. This describes the data; it does not measure the effect of drought on prices.
Source: HCP (monthly consumer price index notes). For months whose note has not yet been read, the IMF series (food and non-alcoholic beverages) is used; the two usually differ by a few tenths of a point.
Inflation by city · September 2026
- Laayoune +2.9 %
- Guelmim +2.8 %
- Oujda +2.3 %
- Agadir +1.3 %
- Tetouan +1.2 %
- Meknes +1.1 %
- Dakhla +0.9 %
- Kenitra +0.8 %
- Rabat +0.7 %
- Tangier +0.5 %
- Casablanca +0.1 %
- Al Hoceima 0.0 %
- Beni Mellal −0.1 %
- Fez −0.4 %
- Marrakesh −0.4 %
- Safi −0.6 %
- Settat −0.9 %
- Errachidia −1.3 %
The index tracks how prices have changed in each city since 2017, not their level: it cannot be used to compare the cost of living between cities.
3 Growth, farming and rain
Real GDP growth, year on year
Each quarter compared with the same quarter a year earlier, at constant prices.
4 Stock market
Casablanca Stock Exchange share price index as published by the IMF (end-of-month value). The exchange website does not allow automated reading, so the daily MASI is not shown here.
5 Banks and insurance
Bank capital to assets ratio (%)
Domestic credit to private sector by banks (% of GDP)
For a detailed assessment of financial-system soundness, including insurance and climate stress tests:
- Financial stability report, fiscal year 2025 BAM · ACAPS · AMMC
- Double Trouble? Assessing Climate Physical and Transition Risks for the Moroccan Banking Sector BAM · World Bank, 2024
- All Morocco reports →
Neither ACAPS nor the catastrophe solidarity fund (FSEC) publishes machine-readable series, so insurance is covered through the reports.
6 Exposure to climate risk
Composite indicator built by the IMF using the INFORM method: it combines climate hazards (drought, floods, storms…) and exposure, population vulnerability and lack of coping capacity. Higher values mean higher risk.