Follow-Up
The research center "BMCE Capital Global Research" (BKGR) reported that the average liquidity deficit in Moroccan banks has worsened by 5.7% to reach 129.1 billion dirhams during the period from May 22 to May 28.
The center clarified in its latest memo, "Fixed Income Weekly," that this development comes at a time when the central bank’s 7-day advances decreased by 3.92 billion dirhams, bringing the total to 42.57 billion dirhams.
Meanwhile, treasury investments also declined, recording a maximum daily flow of 24.5 billion dirhams, down from 32.1 billion dirhams in the previous period.
The average weighted rate remained stable at 2.25%, while the MONIA index (Moroccan Money Market: the reference rate calculated based on repurchase transactions secured by treasury bills) fell to 2.153%.
Additionally, the center noted that the Bank of Morocco is expected to increase its interventions in the money market in the coming period, aiming to set its 7-day advances at 47.2 billion dirhams compared to 42.5 billion dirhams previously.
