According to BMCE Capital Global Research (BKGR), banks’ average liquidity shortfall decreased by 1.55% to 134.3 billion dirhams (billion dirhams) in the period from March 21 to 27.
This result comes at a time when the central bank’s seven-day advances fell by 7.51 billion dirhams to 39.4 billion dirhams, BKGR specified in its recent “Fixed Income Weekly” note.
For their part, investments in government bonds are increasing, with a maximum daily outstanding amount of 23.7 billion dirhams on March 26, compared to a maximum daily outstanding amount of 19.2 billion dirhams during the previous period, the same source reports.
Also read: Local governments: tax revenues reach almost 4 billion dirhams
Under these conditions, the Weighted Average Rate (TMP) stabilizes at 3%, while the MONIA (Editor’s Note, Morocco Overnight Index Average: daily reference monetary index, calculated on the basis of delivered repurchase transactions backed by government bonds) rises to 2.983% .
Moreover, analysts estimate that Bank Al-Maghrib should increase its pace of intervention in the money market in the coming period with the injection of 52.2 billion dirhams in the form of seven-day advances, compared to 39.4 billion dirhams this week. .
With CARD
Related Posts
Inauguration of the new Tetouan-Amsterdam airline
Digital advertising: Aleph signs a strategic partnership with GAM
