The Bank al-Maghrib of Morocco held its main policy rate at 3.25% in the face of steady inflation. The Bank said in its statement that the "inflation forecast is consistent with the price stability objective and the balance of risks is slightly tilted to the upside". The Bank commented that core inflation had been 1.7% in February, up slightly from 1.4% in January, meanwhile industrial producer prices rose to 14.2%in January from 8.1% in December, due to rising commodity prices. The Bank expects inflation to sit around 2.2% through H2 2011.
www.CentralBankNews.info
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