Research Center: Money market steady amid summer cash flows
The Moroccan money market experienced stability during the week from July 24 to July 30, 2026, despite significant cash inflows associated with the summer period. Interbank interest rates remained steady at 2.25%, while the "Monia" index saw a slight decline from 2.21% to 2.20%. Bank of Morocco increased liquidity through 7-day advances to 53.9 billion MAD, marking an approximate 10 billion MAD rise over the week. Meanwhile, the banking sector's liquidity deficit stood at 127.3 billion MAD at the end of June, widening by 13.3 billion MAD over the year. Monetary aggregates experienced strong growth, with cash transactions and liquid deposits increasing by 18.3% and 6.3%, respectively, while long-term monetary policy tools remained stable at 95.4 billion MAD.
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