# Morocco Bank Al-Maghrib official policy rate (taux directeur), calendar-month average of the rate in force

Morocco Bank Al-Maghrib official policy rate (taux directeur), calendar-month average of the rate in force was 2.2% in October 2026, unchanged from September 2026 and unchanged from a year earlier.
Over the past ten years it has ranged from 1.5% (Jul 2020) to 3.0% (Apr 2023), averaging 2.2%.

- Source agency: Bank Al-Maghrib (Morocco)
- Makrognosis code: `MA.IR.M.NSA`
- Frequency: monthly
- Units: % p.a.
- Coverage: 2006-12-01 to 2026-10-01 (239 observations)
- Page: https://makrognosis.robomacro.com/data/morocco/bank-al-maghrib-official-policy-rate-taux-directeur-calendar-month

## Recent data

| Period | Value |
|---|---:|
| October 2026 | 2.2% |
| September 2026 | 2.2% |
| August 2026 | 2.2% |
| July 2026 | 2.2% |
| June 2026 | 2.2% |
| May 2026 | 2.2% |
| April 2026 | 2.2% |
| March 2026 | 2.2% |
| February 2026 | 2.2% |
| January 2026 | 2.2% |
| December 2025 | 2.2% |
| November 2025 | 2.2% |
| October 2025 | 2.2% |
| September 2025 | 2.2% |
| August 2025 | 2.2% |
| July 2025 | 2.2% |
| June 2025 | 2.2% |
| May 2025 | 2.2% |
| April 2025 | 2.2% |
| March 2025 | 2.4% |
| February 2025 | 2.5% |
| January 2025 | 2.5% |
| December 2024 | 2.6% |
| November 2024 | 2.8% |

## API

```
curl -H "X-API-Key: $MAKROGNOSIS_KEY" \
  "https://makrognosis.robomacro.com/v1/series/MA.IR.M.NSA"

# Python
import requests
r = requests.get("https://makrognosis.robomacro.com/v1/series/MA.IR.M.NSA",
                 headers={"X-API-Key": KEY})
obs = r.json()["observations"]
```