According to BMCE Capital Global Research (BKGR), the bank liquidity deficit widened slightly by 3.84% during the week from March 3 to 9 to settle at 75.1 billion dirhams (MMDH) on average. weekly.
This deficit comes at a time when the 7-day advances of Bank Al-Maghrib (BAM) show an increase to 36.2 billion dirhams, once morest 33.1 billion dirhams a week earlier, indicates BKGR in its recent “Fixed income weekly” note, noting that Treasury investments fell to 14.9 billion dirhams.
In addition, the weighted average rate was stable at 1.50%, while the MONIA index (Editor’s note, Moroccan Overnight Index Average: benchmark overnight monetary index, calculated on the basis of repurchase transactions having as collateral the Treasury bonds) stood at 1.421%, the same source said.
Regarding forecasts, the Central Bank should reduce its intervention in the money market with the injection of 34 billion dirhams, in the form of 7-day advances once morest 36 billion dirhams previously.
M.B.
