SEOUL, Oct 9: South Korea’s broadest measure of L-money supply growth sped up to its quickest in three months in August compared to a year ago, the central bank said on Wednesday, as the local economy keeps to a steady recovery path.
The L-money supply measure, which includes all cash, all types of deposits at financial institutions and all money market instruments issued, grew 7.3 percent in August.
It was slightly faster than a 6.8 percent annual growth seen in July and the quickest since 7.3 percent growth in May.
Separate data from the Bank of Korea showed bank lending to households edged up by 0.2 trillion won ($186 million) in September, compared to a 1.9 trillion won rise in August.
The central bank attributed the lower level of household
Borrowing to bonuses paid out over the Chuseok holidays last month.
The data comes a day before the Bank of Korea holds its monthly monetary policy meeting, where it is widely expected to hold interest rates steady at 2.50 percent for a fifth straight month. ($1 = 1071.5250 Korean won) (AGENCIES)
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