The annual growth rate of the monetary aggregate M3 rose 4.7% in July, after 4.5% a month earlier, reaching 1.339.9 billion dirhams, the central bank said in key indicators of the monetary statistics of July 2019. By component, the cash circulation is up 8.5% after 7.7% and the term accounts show a slight increase of 0.4% after a drop of 0.2%, says Bank Al-Maghrib (BAM ). On the other hand, the growth rate of sight deposits with banks dropped from 3.8% to 3.4%.
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