SEOUL, July 10: South Korea’s broadest L-money supply growth eased in May after a brief pickup in April, as money circulation remained sluggish amid fragile signs of economic recovery, central bank data showed on Wednesday.
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 May from a year earlier, the Bank of Korea data showed.
It was compared to a 7.6 percent growth in April, still low compared to rises in the 8-percent range seen early this year.
Meanwhile, separate central bank data showed bank lending to households jumped by a net 4.8 trillion won ($4.20 billion) in June, versus a net 2.6 trillion won rise in May.
June’s borrowings were mainly attributed to tax breaks on property purchases that expired at the end of June, the central bank said. It was the biggest rise seen since last December when lending rose by a net 4.9 trillion won. ($1 = 1141.7000 Korean won)
(agencies)
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