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The money supply in South Korea grew more than 7 percent on-year in August due to increased deposits by households and companies, the central bank said Wednesday.
The nation's "M2" totaled 2,377 trillion won ($2.1 trillion) in August, up 7.2 percent from a year earlier, according to the Bank of Korea. It marks a 1.2 percent rise from July.
The BOK attributed the increase in money supply to a rise in deposits, short-term money in trusts and money market funds.
As of the end of August, the amount in demand deposit accounts rose 3.9 trillion won from a month earlier, while money held in money market funds increased 4.4 trillion won over the cited period.
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 central bank is set to hold a monthly rate-review session. Analysts said they expect the Bank of Korea to hold the key rate steady at a record low 1.25 percent for October.
Meanwhile, the country's liquidity aggregate, the widest measure of the money supply, grew 7.7 percent in August 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. (Yonhap)
The nation's "M2" totaled 2,377 trillion won ($2.1 trillion) in August, up 7.2 percent from a year earlier, according to the Bank of Korea. It marks a 1.2 percent rise from July.
The BOK attributed the increase in money supply to a rise in deposits, short-term money in trusts and money market funds.
As of the end of August, the amount in demand deposit accounts rose 3.9 trillion won from a month earlier, while money held in money market funds increased 4.4 trillion won over the cited period.
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 central bank is set to hold a monthly rate-review session. Analysts said they expect the Bank of Korea to hold the key rate steady at a record low 1.25 percent for October.
Meanwhile, the country's liquidity aggregate, the widest measure of the money supply, grew 7.7 percent in August 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. (Yonhap)
