Banks: A liquidity need of 128.1 billion dirhams in October

In this context, Bank Al-Maghrib (BAM) has raised the volume of its liquidity injections, which averaged 143.7 billion dirhams weekly, according to the recent economic note from the Directorate of Financial Studies and Forecasts (DEPF). The Central Bank's interventions primarily focused on seven-day advances (67.5 billion dirhams), one- and three-month repurchase agreements (42.9 billion dirhams), and guaranteed loans provided under support programs for very small, small, and medium enterprises (33.2 billion dirhams), the same source specifies. Regarding the average volume of interbank transactions, it decreased by 20.4% compared to the previous month, settling at 4.5 billion dirhams in October 2025. The average weighted interbank rate (TIMPJJ) has remained stable since March 20, 2025, aligning closely with the key rate, averaging 2.25%. Concerning the evolution of lending rates, the results of Bank Al-Maghrib's survey for Q3-2025 indicate a near stagnation compared to the previous quarter, with the overall average weighted rate at 4.85%, up from 4.84% in Q2-2025. This development reflects the combined effect of a decrease in equipment loan rates (-34 basis points to 4.49%) and real estate loan rates (-8 basis points to 5.05%), the near stagnation of consumer loan rates (6.89% after 6.88%), and an increase in treasury loan rates (+8 basis points to 4.73%).