The average bank liquidity deficit narrowed by 3.71% to 151.8 billion dirhams (billion dirhams) during the period from November 20 to 28, according to BMCE Capital Global Research (BKGR).
This situation comes at a time when 7-day advances from Bank Al-Maghrib (BAM) strengthen by 3.1 billion dirhams to stand at 66 billion dirhams, indicates BKGR in its recent “Fixed Income Weekly” note.
At the same time, Treasury investments increased slightly with a maximum daily outstanding of MAD 10 billion, compared to a maximum daily outstanding of MAD 18.2 billion during the previous period.
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Under these conditions, the weighted average rate is set at 2.75%, while the MONIA (Moroccan Overnight Index Average: day-to-day reference monetary index, calculated on the basis of repurchase transactions delivered with bond bonds as collateral). Treasury) falls to 2.7%.
During the next period, analysts estimate that BAM should reduce the pace of its intervention on the Money Market, thus setting the volume of its 7-day advances at 59.8 billion dirhams compared to 66 billion dirhams previously.
Morocco
