The money market remained balanced during the week of September 6 to 12, pending the third monetary policy meeting of Bank Al-Maghrib (BAM) scheduled for September 24, according to Attijari Global Research (AGR).
Interbank rates were in line with the key rate, AGR indicates in its recent note “Weekly Hebdo Taux – Fixed Income”, specifying that MONIA rates (Editor’s note, Moroccan Overnight Index Average: monetary reference index for the day, calculated on the basis of repo transactions delivered with Treasury bills as collateral) eased to 2.68%.
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The outstanding amount of BAM interventions amounted to 151.5 billion dirhams (MMDH). In more detail, 7-day advances stood at 67.8 MMDH against 61.3 MMDH a week earlier, an increase of 6.5 MMDH.
Furthermore, longer-term intervention in the form of guaranteed loans and repurchase agreements remained stable at 83.7 billion dirhams.
On the Treasury investments side, the outstanding amount with repo agreements thus stood at 17.7 billion dirhams, against 9.6 billion dirhams a week earlier, including 16.8 billion dirhams in the form of repo agreements.
With MAP
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