In its monthly statistics bulletin, the BCEAO analyzed the situation of the UEMOA interbank market. The average weekly volume of transactions, all maturities combined, stood at 495.3 billion in June 2021.

The WAEMU interbank market recorded an average weekly volume of transactions up 14.2%, all maturities combined. It stood at 495.3 billion in June 2021. The weighted average rate stood at 2.59%. “On the regional money market, the average amount of bids on the weekly auction window fell from 3,356.6 billion in May 2021 to 3,344.9 billion in June 2021, a decrease of 0.35%”, informs the Bceao . It should be noted that the auctions have been carried out since March 31, 2020 at a fixed rate, namely the minimum interest rate for tenders, which has been reduced from 2.50% to 2.0% as of of June 24, 2020. The overall volume of BCEAO refinancing in favor of banks was 5,296.0 billion at the end of June 2021.

At the one-week compartment level, the average trading volume fell from 339.3 billion in May 2021 to 332.7 billion during the month under review. The average interest rate stood at 2.33% in June 2021, compared to 2.37% the previous month. The reference rate on the interbank market stood at 2.36% in June 2021, against 2.37% a month earlier. The results of the banking conditions survey reveal a decline in lending interest rates during the month of June 2021 compared to the previous month. Excluding charges and taxes, the average lending rate in the Union stood at 6.21%, compared to 6.30% the previous month, a decline of 9 basis points. The average deposit interest rate for term deposits stood at 5.37% in June 2021, an increase of 37 basis points compared to the previous month.