Banks: The liquidity deficit is decreasing

According to BMCE Capital Global Research (BKGR), banks’ average liquidity deficit narrowed by 4.15% to DH135.3 billion in the period from January 2 to 8.

This development comes as Bank Al-Maghrib (BAM)’s 7-day advances shrank from DH12.4 billion to DH60.2 billion, analysts said in the latest Fixed Income Weekly note.

As for the Ministry of Finance’s investments, they are recording growth with a maximum daily circulation of DH9.3 billion (compared to a maximum daily circulation of 8.8 billion DH in the previous period).

For its part, the weighted average rate (TMP) fell to 2.5%, while the MONIA (Moroccan Overnight Index Average) fell to 2.463%. In the next period, BAM should reduce the pace of its interventions in the money market and set the volume of its 7-day advances at DH53.3 billion, compared to DH60.2 billion previously.