Recent Trends in Bank Liquidity Deficit
According to a report from BMCE Capital Global Research (BKGR), Morocco has experienced a notable decrease in its average bank liquidity deficit, which has dropped by 3.6% to reach 168.1 billion dirhams during the period from April 16 to April 23. This reduction in deficit coincides with a decrease in the Bank of Morocco's seven-day advances, which fell by 13.3 billion dirhams, stabilizing at 70.61 billion dirhams.
The same report highlights that the maximum daily liquidity placements have also witnessed a decline, reducing from 35.8 billion dirhams to 34.6 billion dirhams over the past week. Moreover, the average weighted rate remained steady at 2.25%, while the Monetary Index (Monia), which serves as a reference for daily transactions based on repurchase agreements secured with treasury bonds, has decreased to 2.191%.
Looking ahead, it is anticipated that the Bank of Morocco will reduce the frequency of its interventions in the money market, aiming to set the level of its seven-day advances at 54.91 billion dirhams. These developments indicate a strategic adjustment in the country's monetary policy, reflecting a responsive approach to the evolving economic landscape.
As reported by hespress.com.
