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M3 Money Supply Slows to 7.8% Growth in September: Key Drivers Revealed
Stocks Market
•October 31st, 2025

M3 Money Supply Slows to 7.8% Growth in September: Key Drivers Revealed

Bank Al‑Maghrib reports that the M3 monetary aggregate reached 1.996 billion dirhams in September, up 7.8% year‑over‑year—a slowdown from 8.3% in August. Growth is driven by a fall in bank‑deposit growth, a dip in time‑deposit accounts, and a brisk rise in currency circulation and equity‑fund holdin...

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