In its recent “Hebdo Rates-Fixed Income” note, the research company notes that Bank Al-Maghrib (BAM) absorbed 4.6 billion dirhams (MMDH) from the monetary circuit through its 7-day advances, indicating that they have continued a downward movement since the beginning of January to reach 43.6 billion dirhams this week.
Guaranteed loans, for their part, fell by 2 billion dirhams, in connection with the expiry of a line of the same amount. For their part, repurchase transactions increased by 2 billion dirhams. Long-term interventions thus stabilized at 45.3 billion dirhams.
In addition, AGR underlines that despite a significant lifting of the Treasury on the domestic market during this month of January, ie 34.6 billion dirhams, the Treasury maintains a low pace of investment of its cash surpluses. Investments with reverse repurchase agreements and unsecured settled at 4 billion dirhams, against 4.3 billion dirhams a week earlier.