2023-06-02 20:00:57
The balance of the money market is maintained as Bank Al-Maghrib’s second monetary policy meeting for the year 2023 approaches, estimates Attijari Global Research (AGR).
Interbank Rates remain in line with the Key Rate at 3%, notes AGR in its recent note “Weekly Hebdo Rates – Fixed income”, adding, however, that MONIA Rates have increased by 2 basis points (PBS) at 2.92%, once morest 2.90% a week earlier.
The Central Bank is increasing its interventions this week from 7.3 billion dirhams (MMDH) to 86.1 billion dirhams. This is an increase in its 7-day advances to 39.3 billion dirhams, while satisfying all banking demand.
The overall amount of BAM’s Long Term interventions stabilized at the same level compared to last week, at 46.8 billion dirhams. For its part, the Treasury maintained the high rate of its average investments on the money market during this week.
This situation reflects the gap between the significant financing mobilized by the State treasurer during Q2-2023 and its financing needs during the same period, notes AGR.
Thus, the average weekly outstanding amount of blank injections and with reverse repurchase agreements stands at 36.5 billion dirhams once morest 34.4 billion dirhams a week earlier.
With MAP
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