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S. Korea's money supply up 6.9 pct in July: BOK

All News 12:00 September 08, 2016

SEOUL, Sept. 8 (Yonhap) -- The money supply in South Korea grew nearly 7 percent on-year in July due to increased deposits, both in local and foreign currencies, by households and companies, the central bank said Thursday.

The nation's "M2" totaled 2,348.3 trillion won (US$2,147 billion) in July, up 6.9 percent from a year earlier, according to the Bank of Korea (BOK). It marks a 0.7 percent rise from June.

M2 is a measure of the money supply counting the currency in circulation, including bank debentures and deposits with a maturity of less than two years, along with stock investments. It's a key economic indicator closely monitored by the authorities.

The data came a day before the BOK's scheduled monthly rate-review session. Analysts said they expect the BOK to hold the key rate steady at a record low 1.25 percent for September.

Meanwhile, the country's liquidity aggregate, the widest measure of the money supply, grew 7.8 percent in July from a year earlier.

The liquidity aggregate, the broadest measure of the nation's money supply, covers currency in circulation, all types of deposits at financial institutions and state and corporate bonds.

S. Korea's money supply up 6.9 pct in July: BOK - 1


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