RABAT - Morocco's central bank paused its monetary tightening on Tuesday and kept its benchmark interest rate at 3%, following three consecutive hikes to curb inflation. Inflation, driven by food prices, would stand at 6.2% this year before dropping to 3.8% next year, the bank said in a statement following its quarterly board meeting. Morocco's economy would grow by 2.4% in 2023 and 3.3% next year, after expanding 1.3% in 2022, it said. (Reporting by Ahmed Eljechtimi; Editing by Alex Richardson)

Source: The North Africa Journal June 21, 2023 02:06 UTC