Bank Al-Maghrib (BAM) reported that the annual growth rate of the monetary aggregate M3, which represents the money supply, increased by 5.2% in December 2021 after 7.1% a month earlier.
According to the key indicators of monetary statistics for the month of December 2021 from BAM, this development mainly reflects an increase in term accounts of 0.6% after 4.6%, an increase in fiduciary circulation of 6.5% after 5 .8%, and sight deposits with banks by 7.6% after 7.5%.
On the other hand, official reserve assets increased by 3.2% in December against 10.6% in November and net claims on central government by 14.4% after 8.4%, adds BAM. On a monthly basis, the M3 aggregate recorded, in December 2021, an increase of 0.7% to stand at 1,562.7 billion dirhams (MMDH).
This trend mainly reflects the 4.1% increase in sight deposits with banks and 0.2% increase in currency in circulation, as well as the 2% decline in term accounts.
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