MEDI1TV Afrique : JT Economie - 26/09/2024
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00:00Hello everyone, and thank you for joining us for this new edition of the Economy Journal.
00:13In Morocco, Banca Al-Marriba decided to raise the level of exchange rates to 0.65% of the value of transactions for the operations of domestic monetary payments by card issued in Morocco.
00:26This decision frames the domestic monetary exchange rates, which correspond to the share price perceived by the banks and payment establishments, on the commission taken from the merchants as payment by card.
00:39Payment commissions by card cannot be refactored by merchants to consumers and, as a result, do not affect the price of goods or services concerned by these transactions.
00:50This measure intervenes in the framework of Banca Al-Marriba's prerogatives in terms of ensuring the security of systems and means of payment.
00:58Still in Morocco, with the latest report on Banca Al-Marriba's monetary policy, the M3 aggregate, which represents the monetary mass, has increased from 4.4% per annum in the second quarter of 2024 to 3.7% a quarter earlier.
01:16According to Banca Al-Marriba, this evolution translates the increase in currency deposits by 10% after a decline of 0.5%, as well as the reduction in final deposits by 7.2% to 5.3%, mainly linked to the expansion of public companies by 22.5% after a decline of 29.1%.
01:38In the same way, the rate of increase in public deposits has accelerated from 7.1% to 7.4%, reflecting the progression of household deposits from 6.7% to 5.8%.
01:52As for the financial circulation, it recorded an annual growth of 9% after 10.2% in the first quarter.
02:01In Morocco, the need for bank liquidity has slightly increased to 113.8 billion dirhams on average during the second quarter of this year, against 111.6 billion dirhams a quarter earlier under the influence of the rise in fiat currency.
02:19In these conditions, Banca Al-Marriba brought its injections to 128.2 billion after 123.9 billion dirhams, of which 44.6 billion dirhams were in advance seven days earlier, 51.5 billion dirhams through the delivery of pensions and 32.2 billion in pre-guaranteed operations granted as part of support programs for the financing of the very small, small and medium-sized companies.
02:47The latest available data indicates a new emphasis on the need for bank liquidity at 129.4 billion dirhams on average in July and August 2024.
02:59In international economic news, the OECD slightly raised its forecast for global growth in 2024 as inflation dissipates and central banks lower interest rates.
03:13The Paris-based institution expects 3.2% for global growth, a 0.1 point increase over its last May forecast.
03:23The institution is optimistic, in particular for Spain, with more than 2.8% increase of 1 point, the United Kingdom with more than 1.1% increase of 0.7 points and Russia with 3.7% increase of 1.1 points.
03:40China is now heading to the day after the announcement of a series of measures to attempt to restart economic growth.
03:47The Chinese central bank has reduced a reference interest rate. This is the rate for medium-term loans to financial institutions, which has been lowered from 2.3% to 2%.
03:58Followed closely by the markets, this rate is now at its lowest in history. Its last reduction was in July and that of this month was widely anticipated by economists.
04:08On Tuesday, the central bank announced support measures for consumption and real estate without precedent since the COVID-19 outbreak, in the hope of reinvigorating an activity worthwhile in the second world economy.
04:21Among the announced measures are the next reduction in interest rates and loans. This approach was accompanied by the injection on Wednesday of 300 billion yuan, or 38 billion euros in the economy, according to the central bank, at a time when the lack of liquidity is precisely a brake on activity.