Banking Liquidity: Average Deficit Decreases by 0.25% from July 31 to August 6

The average banking deficit has decreased by 0.25% during the period from July 31 to August 6. This change coincides with a rise in the 7-day advances from Bank Al-Maghrib (BAM), which increased by 2 billion dirhams to reach 53.4 billion dirhams, according to BKGR's recent note titled "Fixed Income Weekly." In addition, Treasury placements have seen an increase, with a maximum daily outstanding amount of 14.1 billion dirhams, compared to a maximum of 13.8 billion dirhams in the previous period. The weighted average rate has stabilized at 2.25%, while the Moroccan Overnight Index Average (MONIA) has decreased to 2.24%. 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 48.3 billion dirhams.