Moody's Investors Service ("Moody's") has changed the outlook on the Government of Morocco's long-term issuer ratings to stable from positive and has affirmed the Ba1 issuer ratings.

Fitch Ratings has affirmed Morocco's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BBB-' with a Stable Outlook.

Morocco's central bank kept is monetary policy rate steady at 2.25 percent and said it expected inflation to continue to decelerate in the second half of the year after rising in the first half and average 2.1 percent for the year, down from its June forecast of 2.4 percent.

Morocco's central bank continued to keep its monetary policy rate at 2.25 percent, unchanged since March 2016, saying underlying inflation remains moderate despite the recent rise in headline inflation which is based on changes to the consumer price index along with higher prices of volatile food products and tariffs on regulated prices.