The money market in balance from May 27 to June 2

The money market maintained its balance during the week from May 27 to June 2, according to Attijari Global Research (AGR).

“As the second monetary policy meeting of the Central Bank for the year 2022 approaches, the balance of the money market is maintained”, indicates AGR in its recent note “Weekly Hebdo Rates – Fixed Income”.

Interbank rates remain in line with the key rate at 1.50%, noted the same source, adding, however, that MONIA rates were up 1 basis point (BP) to 1.44%, against 1 .43% a week ago.

“Bank Al-Maghrib lowered its interventions this week from 5.2 billion dirhams (MMDH) to 87.8 billion dirhams. This is a decline in its 7-day advances to 36.2 billion dirhams, while satisfying all banking demand,” notes AGR.

And to note that the overall amount of long-term interventions (LT) of BAM stabilized at the same level compared to last week, ie 51.6 billion dirhams.

For its part, the Treasury reduced its average investments during this week. Thus, the average weekly outstanding amount of blank injections and with reverse repurchase agreements stands at 4.3 billion dirhams against 7.7 billion dirhams a week earlier.


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