The money market is gradually regaining its breath

The money market is gradually regaining its breath at the end of the shortened week on the occasion of Eid Al-Adha, according to Attijari Global Research (AGR).

“After reaching high levels at 1.46% at the start of the week, MONIA rates (Editor’s note, Moroccan Overnight Index Average: benchmark overnight monetary index, calculated on the basis of repo transactions having as collateral the treasury bills) return to equilibrium and trade around 1.43% at the end of the week »indicates AGR in its note “Weekly Hebdo Rates – Fixed Income” which covers the period from July 8 to 14, 2022.

The weekly average remained stable at 1.45% during this period, specifies the same source, noting that this situation is explained by the increased interventionism of the Central Bank.

Thus, the institution raised its injections of liquidity through 7-day advances to more than 52 billion dirhams (MMDH), fully satisfying banking demand.

These remain a major monetary policy instrument to regulate bank liquidity during this period marked by significant pressure on cash, note the AGR analysts, who note that under these conditions, the balance of interbank rates remained imperturbable. , in perfect harmony with the key rate set at 1.50%.

In addition, Treasury investments on the money market reached an average of 10 billion dirhams this week, against 8.2 billion dirhams the previous week.


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