The annual growth rate of the monetary aggregate M3, which represents the money supply, decelerated to 7.2% last October, from 7.4% a month earlier, according to Bank Al-Maghrib (BAM).
This development mainly reflects the slowdown in sight deposits with banks by 7.6%, currency in circulation by 5.4% and term accounts by 3.3%, explains BAM, which has just published its key statistical indicators. currency for the month of October 2021.
In return, official reserve assets (AOR) increased by 9.6% in October after 3.7% in September 2021 and claims on the Central Administration by 8.3% after 7.6%.
On a monthly basis, the M3 aggregate recorded, last October, a decrease of 0.4% to 1,545.6 billion dirhams (billion dirhams), mainly covering the decrease of 0.7% in sight deposits with banks and 0.9% of term accounts. In contrast, currency in circulation increased by 0.6%. Official reserve assets increased by 0.9%, while net claims on the Central Administration decreased by 0.7%.