SEOUL, Nov 8: South Korea’s broadest L-money supply growth in September eased to its slowest since February this year as the economy struggles to gain traction, central bank data showed on Thursday.
The L-money supply measure, which includes all cash, all types of deposits at financial institutions and all money market instruments issued, in September rose 8.9 percent from a year earlier compared with growth of 9.2 percent in August.
Meanwhile, in another statement from the Bank of Korea, household lending from banks in October rose by a net 2.0 trillion won ($1.84 billion) versus a net fall of 0.8 trillion won the previous month.
The gain, which was the biggest since a 2.2 trillion won rise in May this year, was attributed to recently implemented tax cuts in September by the government to breathe energy into the anaemic real estate market.
($1 = 1085.6000 Korean won)
(AGENCIES)
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