CThe deficit includes the reduction in Bank Al-Maghrib (BAM) interventions, in particular 7-day advances down to 43.6 billion dirhams once morest 47.8 billion dirhams last week, indicates BMCE Capital Global Research, in its recent note “Fixed Income Weekly ”.
According to the same source, Treasury investments are on the rise, with a maximum daily outstanding amount of 7.45 billion dirhams as of January 25.
For its part, the weighted average rate (TMP) stabilized at 2.5% while the MONIA (Moroccan Overnight Index Average), this overnight benchmark monetary index calculated on the basis of repo transactions having as collateral for Treasury bills, fell to 2.414%.
Regarding prospects, BAM should, over the next period, increase its intervention in the money market with the injection of 45.9 billion dirhams in the form of 7-day advances once morest 43.6 billion dirhams the previous week, estimates BKGR.
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