“We must never act in haste, otherwise we will have to suddenly correct the course later,” warned Mr. Jouahri during a press briefing held at the end of the third quarterly meeting of the BAM Council for the year 2024.
“A responsible central bank is prudent,” he said, noting that monetary policy focuses on macroeconomic balances, directly impacting inflation, which itself influences the value of the dirham and, consequently, purchasing power.
The Council therefore considered it appropriate to continue the current monetary policy stance, keeping the key rate unchanged at 2.75%, while continuing to closely monitor developments in the economic and social situation.
And to ensure that the banks’ liquidity demands will be fully met, although the key rate has been kept unchanged.
“If banks express needs to finance investments or to respond to demands from the private sector, the Central Bank grants them the necessary amounts,” said Mr. Jouahri.
“Currently, we are granting 151 billion dirhams (MMDH), and the amounts that banks can obtain from the Central Bank, depending on the guarantees they offer in the form of a portfolio, can go up to 400 MMDH,” he said.
2024-09-24 21:14:24