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S. Korea's money supply continues expansion in June

All Headlines 12:00 August 09, 2018

SEOUL, Aug. 9 (Yonhap) -- The money supply in South Korea expanded at the fastest pace in four months in June on increasing private lending, central bank data showed Thursday.

The country's M2 totaled 2,622.3 trillion won (US$2.34 trillion) last month, up 6.1 percent from 2,470.9 trillion won a year earlier, the Bank of Korea (BOK) said in a statement.

The 6.1 percent gain is the steepest on-year increase since February, when the money supply rose at a 10-month high rate of 6.2 percent on-year.

The growth rate of the M2 has remained at a modestly high level of over 5 percent since the beginning of 2018 on a steady expansion in corporate lending since the latter half of last year.

From a month earlier, the money supply edged up 0.5 percent in June, the BOK added.

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

S. Korea's money supply continues expansion in June - 1

brk@yna.co.kr
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