The bank liquidity deficit eased by 11.01% to stand at 101.7 billion dirhams (MMDH), during the week of March 30 to April 5, according to BMCE Capital Global Research (BKGR).
During the same period, 7-day advances from the Central Bank increased to 55.1 billion dirhams, indicates BKGR in its recent “Fixed Income Weekly” note.
Regarding Treasury investments, these are down with a maximum daily outstanding amount of 40.4 billion dirhams as of March 31, notes BKGR.
For its part, the weighted average rate stabilized at 3%, while the MONIA (Moroccan Overnight Index Average: overnight benchmark monetary index, calculated on the basis of repo transactions with Treasury bills as collateral) fell to 2.844%.
Over the next period, Bank Al-Maghrib should reduce its intervention on the money market with the injection of 43.4 billion dirhams in the form of 7-day advances against 55.1 billion dirhams the previous week.