Bank liquidity needs rise in Morocco in August 2025
Morocco’s banking liquidity needs increased in August 2025 compared to the previous month, according to the Directorate of Studies and Financial Forecasts (DEPF).
In response, Bank Al-Maghrib (BAM) raised the volume of its liquidity injections, reaching an average of 134.4 billion dirhams (MMDH) per week, up from 128.8 MMDH in July, the DEPF noted in its latest economic report.
BAM’s interventions were mainly concentrated in 7-day advances (57.4 MMDH), repo operations over 1 to 3 months (43.4 MMDH), and secured loans granted under support programs for very small, small, and medium-sized enterprises (TPME), totaling 33.5 MMDH.
The average volume of interbank transactions also rose by 8.5%, reaching 4.6 MMDH in August 2025. Meanwhile, the overnight weighted average interbank rate (TIMPJJ) remained stable since March 20, 2025, aligned with the key policy rate at 2.25%.
Regarding lending rates, BAM’s quarterly survey for the second quarter of 2025 revealed a continued decline in the overall weighted average lending rate, down 14 basis points to 4.84%. This drop reflects decreases across most credit categories, including equipment loans (-32 bps to 4.83%), consumer loans (-25 bps to 6.88%), treasury loans (-9 bps to 4.65%), and real estate loans (-5 bps to 5.13%).
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