EXECUTIVE SUMMARYFINANCIAL INVESTORS’ EXPECTATIONS TOWARDS BANK AL-MAGHRIB'S KEY RATE
During our survey conducted in September, we identified investors' expectations regarding the evolution of the Moroccan central bank’s key rate during its 3rd monetary policy meeting scheduled on September 26th 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, investor consensus is almost unanimous regarding a status quo in the key rate of the Moroccan Central Bank.
Following the analysis of answers obtained, the probability of a status quo in the key rate is 96% against a probability of 3% for an increase of +25 BPS in the key rate. Moreover, the probability of a decrease of -25 BPS in the key rate is almost zero, i.e. 1%.