Follow-Up
The research center “BMCE Capital Global Research” reported that the average banking liquidity deficit decreased by 7.48 percent, settling at 130.9 billion dirhams during the period from August 28 to September 3.
In its weekly note, “Fixed Income Weekly,” the center clarified that this decline occurred while Morocco’s central bank increased its 7-day advances by 1.77 billion dirhams, reaching a total of 59.05 billion dirhams. Conversely, treasury placements saw a notable decline, with the daily maximum reaching 13.4 billion dirhams, compared to 19.95 billion dirhams during the previous period.
Regarding market indicators, the average weighted price remained at 2.25 percent, while the MONIA index (the Moroccan benchmark monetary index for measuring daily transactions based on secured repurchase agreements with treasury bonds) dropped to 2.218 percent.
As for forecasts, the center suggested that Morocco’s central bank is likely to reduce the pace of its interventions in the money market, indicating a targeted amount for its 7-day advances at 56.15 billion dirhams.
