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Tunisia: net decrease in bank deposits

Banks’ liquidity needs have continued to increase month after month since March 2015 and the monetary policy operations of the Central Bank of Tunisia (BCT) reached, in July, the highest level of the current year. i.e.5,978 thousand Tunisian dinars (MTD) against 5.541 in June, the Central Bank said in its monthly economic report published after its Executive Board meeting Thursday.

For its part, the average interest rate on the money market recorded a slight decrease during the same month, falling to 4.78% against 4.80% in June, in connection with the interventions of the Central Bank to regulate liquidity in the market.

Regarding the Tunisian banking sector activity at end-July 2015, the BCT draws attention to a slowdown in the growth rate of bank deposits in the first seven months of the current year (1.5% against 5.8% for the same period last year), following the increase at a slower pace of demand deposits and term accounts.

The BCT noted a similar evolution in financing to the economy over the same period (3.5% against 5.8% in the first seven months of 2014), in relation with the decline in short-term loans and the deceleration in medium and long term loans.

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