Bank Liquidity: Average Deficit Decreased by 7.48% from August 28 to September 3

The average deficit in bank liquidity has decreased by 7.48% during the period from August 28 to September 3. This change coincides with a rise in the 7-day advances from Bank Al-Maghrib (BAM), which increased by 1.77 billion dirhams, reaching a total of 59.05 billion dirhams, as reported by BKGR in its recent "Fixed Income Weekly" note. In contrast, Treasury placements have declined, with a maximum daily outstanding amount of 13.4 billion dirhams, down from 19.95 billion dirhams in the previous period. The weighted average rate (TMP) has stabilized at 2.25%, while the Moroccan Overnight Index Average (MONIA) has decreased to 2.218%. Looking ahead, BKGR indicates that the Central Bank is expected to reduce the pace of its interventions in the money market, setting the volume of its 7-day advances at 56.15 billion dirhams.