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Morocco’s bank liquidity deficit remains stable

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Morocco's bank liquidity deficit remains stable

Hespress ENSunday 24 March 2024 – 13:25

Morocco’s bank liquidity deficit remained virtually unchanged for the week of March 14th to 20th, according to BMCE Capital Global Research,  remaining near -0.65%, or  133.4 billion dirhams.

This stability comes despite an increase in Central Bank interventions with the 7-day advances provided to banks rose by 6.07 billion dirhams, reaching 46.9 billion dirhams for the week.

On the other hand, Treasury investments have been on the rise. The maximum daily outstanding amount reached 19.2 billion dirhams on March 18th, higher than the previous week’s peak of 23.4 billion dirhams.

Interest rates also showed limited movement as the weighted average rate remaining steady at 3%, while the Moroccan Overnight Index Average (MONIA) – a key day-to-day reference rate – saw a slight increase to 2.968%.

Looking ahead, Bank Al-Maghrib is expected to reduce its involvement in the money market and is projected to inject 39.4 billion dirhams through 7-day advances next week, down from 46.9 billion dirhams this week.

BAM Liquidity

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