HomeEconomythe liquidity deficit widens by 2.17% from January 19 to 25

the liquidity deficit widens by 2.17% from January 19 to 25

The bank liquidity deficit widened by 2.17% to stand at 80.1 billion dirhams (MMDH) from January 19 to 25, according to BMCE Capital Global Research (BKGR).

This deficit includes the reduction in interventions by Bank Al-Maghrib (BAM), in particular 7-day advances, down to 43.6 billion dirhams against 47.8 billion dirhams last week, BKGR indicates in its recent “Fixed Income Weekly” note.

Regarding Treasury investments, these are on the rise, with a maximum daily outstanding amount of 7.45 billion dirhams as of January 25, the same source said. For its part, the weighted average rate (TMP) stabilized at 2.5% while the MONIA (Editor’s note, Moroccan Overnight Index Average: overnight benchmark monetary index, calculated on the basis of repo transactions with Treasury bonds as collateral) fell to 2.414%.

Regarding prospects, BAM should, over the next period, increase its intervention in the money market with the injection of 45.9 billion dirhams in the form of 7-day advances against 43.6 billion dirhams the previous week, estimates BKGR.



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