MEDI1TV Afrique : JT Economie - 11/03/2024
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00:00 Welcome to your antenna.
00:07 Right away, the main news of the economic news.
00:10 We open this edition in Morocco with the banking sector.
00:14 The advances of Banklmarib for 7 days on the monetary market have fallen by 4.7 billion dirhams.
00:21 And they have been established at 40.8 billion dirhams during the period from March 1 to March 7, 2024,
00:28 according to Attigeli Global Research.
00:31 These advances have been the lowest level for 4 months.
00:35 For their part, long-term operations, including pensions and guaranteed loans,
00:41 remain stable at 81 billion dirhams.
00:45 Banklmarib continues to regulate the monetary market through its liquidity injections
00:51 in order to maintain interbank rates at the level of the director rate.
00:56 Also know that the bank request was satisfied this week
01:00 through the placement of excess treasury, state money, on the monetary market.
01:06 Still in Morocco, and we are now interested in the exchange market,
01:10 the dirhams have fallen by 0.84% compared to the US dollar and 0.31% compared to the euro
01:19 during the period from February 29 to March 6, according to Banklmarib.
01:24 During this period, no adjudication operation was carried out on the exchange market.
01:30 The official reserve assets were established at 361.5 billion dirhams on March 1,
01:38 an increase of 0.9% from one week to the next and 8.6% over a year.
01:45 As for the Banklmarib's interventions, they were established on an average daily basis at 126.4 billion dirhams,
01:54 including 45.5 billion dirhams in advance for 7 days,
01:59 52.9 billion dirhams of long-term pensions and 28.1 billion dirhams of guaranteed loans.
02:08 On the interbank market, the average daily volume of exchanges was established at 1.9 billion dirhams,
02:16 and the interbank rate was at 3% on average.
02:21 And we continue with the Saudi oil giant Aramco,
02:25 which recorded a fall of 24.7% of its profits last year.
02:31 Aramco indicated that its profits had reached around $121.25 billion in 2023,
02:38 against a record of $161 billion in 2022.
02:43 This decrease mainly reflects the impact of the drop in gross oil prices
02:49 and the weakening of refining and chemical products margins, according to Aramco.
02:54 Recalling that the Saudi giant had released record profits in 2002,
03:00 with the black market price skyrocketing to $130 per barrel.
03:05 Last year, oil prices fell to $85 per barrel,
03:11 particularly due to the risk of a recession around the world, which weighs on the prospects of demand.
03:19 Now let's look at the United States.
03:22 American mortgage rates have fallen for the first time in five weeks.
03:27 The average of a 30-year mortgage was 6.88% during the week ended on March 7,
03:35 against 6.94% the week before.
03:39 Mortgage costs have exceeded 6.5% since May 2023,
03:44 limiting the purchasing power of many potential buyers.
03:48 In addition, the market accounted for 20.6% of additional housing available, from $200,000 to $350,000 in February.
03:59 Although the Fed does not directly set interest rates for borrowers on mortgage loans,
04:06 its actions influence them.
04:08 In this sense, the president of the Federal Reserve, Jerome Powell,
04:12 stressed that it was unlikely that the central bank would fall in rates
04:18 during its next meeting of monetary policy, scheduled for March 19 and 20.
04:23 And finally, we are interested in the unemployment rate in the United States,
04:27 which increased to 3.9% in February, against 3.7% in January,
04:33 thus reaching its highest level in two years, according to the US Department of Labor.
04:40 The report, which listed 270,000 non-agricultural jobs created in February,
04:46 reflects a progressive decline in the labor market,
04:49 with more moderate job gains and wages.
04:53 The growth of employment in February was drawn by the services sectors,
04:58 including health care, as well as leisure and hotel management.
05:03 The Federal Reserve officials pay special attention to the labor market
05:09 and its impact on consumer spending while evaluating the trajectory of inflation.
05:16 The average hourly wage increased by 0.1% compared to January,
05:22 and by 4.3% on an annual basis.
05:26 This is the end of this edition.
05:28 Thank you for watching.
05:30 See you next time on Median TV.
05:33 ♪