EXECUTIVE SUMMARY
During our survey conducted in March, we identified investors' expectations regarding the evolution of the Moroccan central bank key rate during its 1st monetary policy meeting scheduled for March 21st, 2023. Recall that this survey was carried out among a sample of 35 investors considered among the most influential of the Moroccan stock market.
At the end of this exercise, the consensus of financial investors answers pleads for an increase in Bank Al-Maghrib's key rate.
Following the analysis of answers obtained, the probability of an increase of +50 BPS in the key rate is 50% against a probability of 39% for a rise of +25 BPS in the key rate. At the same time, the probability to keep the key rate stable is only 8% against 3% for an increase of +100 BPS in Bank Al-Maghrib's key rate.
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