Banks: Decrease in liquidity needs in December 2024

Banks’ liquidity needs reached DH135.9 billion on a weekly average last December, up from DH138.8 billion a month earlier, according to Bank Al-Maghrib (BAM). Under these conditions, BAM increased the total volume of its injections to 152 billion DH, including 65.5 billion DH in the form of 7-day advances, the central bank noted in its monthly review of the economic, monetary and financial situation that 50.8 Billion DH was delivered through repo transactions with a maturity of 1 and 3 months and 35.7 billion DH was earmarked for refinancing through long-term guaranteed loans.

In the interbank market, the average daily trading volume was DH2.9 billion and the weighted average rate averaged 2.64%, compared to 2.75% in November, according to the decision of the Bank Council made at its meeting on March 17. The key interest rate is to be reduced by 25 basis points (bps) to 2.5% by 2024.

As for the government bond market, interest rates fell slightly in December in both primary and secondary sectors, BAM reports. For their part, deposit rates fell in November by 33 basis points to 2.35% for six-month deposits and by 15 basis points to 2.74% for one-year deposits.