Attijari Global Research (AGR) has published most of its “Weekly Hebdo Taux-Fixed Income” note. This document, which covers the period from July 15 to 21, 2022, reveals the money market and the bond market.

The acceleration of inflation has had a strong impact on the money market, according to AGR. The bank notes not only a balanced market, but also short-term and long-term operations estimated at 103 billion dirhams (MMDH). “7-day advances fell to 41.7 MMDH, while in terms of longer-term injections, pensions delivered increased to MMDH 38.6 MMDH and guaranteed loans fell to 22.6 MMDH. Interbank rates remain in line with the key interest rate of 1.5%, and MONIA rates (Editor's note, Moroccan Overnight Index Average: daily benchmark currency index, calculated on the basis of pension transactions delivered with Treasury bills as collateral) show a low price Worse; re drops by 1 basis point in a week to 1.44%,” the note details. On the bond market side, treasury subscriptions were valued at 1.5 MMDH with a satisfaction rate of 55%, one of the highest in 2022.