(MENAFN- Qatar News Agency) South Korea's money supply growth slightly picked up in October from the previous month on the back of higher bank lending and foreign stock fund inflows, the central bank said Wednesday.
South Korea's M2, a narrow measure of the money supply, rose 4.7% to 1,908.6 trillion won about (US$1.82 trillion) in October from a year earlier, compared with a 4.6% on-year gain in September, according to the Bank of Korea (BOK)
On a seasonally adjusted basis, the country's M2 rose 0.4% in October from the previous month, compared with a 0.8% on-month gain in September, according to South Korea's (Yonhap) News Agency
The BOK said in a separate statement that the growth of South Korea's M2 is estimated to have remained in the upper-4% range in November as an increase in bank lending overshadowed foreign capital outflows
South Korea's liquidity aggregate, the broadest measure of the money supply, grew 7.4% in October from a year ago, down from a 6.7% on-year increase in September, it added
The liquidity aggregate covers currency in circulation and all types of deposits at financial institutions, plus state and corporate bonds
The data came one day before the BOK is scheduled to hold its monthly rate-setting meeting
Analysts said that the BOK is likely to freeze the key rate at 2.5% for the seventh straight month in December.
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