This week’s EGLRM-14 update shows reserve recovery, TGA decline, and easing liquidity pressure after last week’s reserve leakage.

Net liquidity has rebounded following post-tax fiscal flows, but the broader multi-year downtrend remains unchanged. The current move reflects tactical liquidity release within a structurally declining framework.

Liquidity remains abundant but is being redistributed through Treasury cash rebuilding. This week’s EGLRM-14 confirms ongoing re-calibration, not systemic tightening.