HIBAPRESS
The research center "BMCE Capital Global Research" (BKGR) reported that the average banking liquidity deficit recorded a slight deterioration of 0.28 percent to 140.3 billion dirhams during the period from January 15 to 22, 2026.
The center explained in its weekly memo "Fixed Income Weekly" that this development comes at a time when Bank Al-Maghrib's 7-day advances increased to 4.1 billion dirhams, reaching 57.8 billion dirhams. The Treasury's investments recorded an increase, as the maximum daily current reached 12.2 billion dirhams, compared to 8.7 billion dirhams a week earlier. Regarding the weighted interest rate, it stabilized at 2.25 percent, while the "Monia" index (Moroccan Average Index: the reference monetary index for daily measurement, calculated on the basis of repurchase transactions based on treasury bonds as collateral) fell to 2.224 percent. Regarding the coming period, the research center expects Bank Al-Maghrib to reduce the pace of its interventions in the money market, as it will set the size of its 7-day advances at 52.2 billion dirhams, compared to 57.8 billion dirhams previously.
