Morocco’s average banking liquidity deficit widened by 5.93 percent to 141.4 billion dirhams between Dec. 4 and Dec. 11, according to BMCE Capital Global Research.
In its latest Fixed Income Weekly note, the research unit said Bank Al-Maghrib’s seven-day advances rose by 1.1 billion dirhams to 71.9 billion during the period, reflecting increased central bank support to the money market.
Treasury placements also increased, with the maximum daily outstanding amount reaching 8.8 billion dirhams, up from 6.2 billion a week earlier.
Short-term rates remained broadly stable. The weighted average rate held steady at 2.25 percent, while the Moroccan Overnight Index Average edged down to 2.176 percent.
Looking ahead, BMCE Capital Global Research expects Bank Al-Maghrib to slightly step up its liquidity injections in the coming period, forecasting seven-day advances of around 79.5 billion dirhams, compared with 71.8 billion previously, as the central bank continues to manage tightening liquidity conditions.
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