(MENAFN- Qatar News Agency) Oul june 11 (qna) - south korea's money supply grew 5.5 percent in april from a year earlier as bank lending remained firm central bank data showed wednesday.
south korea's m2 a narrow measure of money supply amounted to 1.97 quadrillion won about (us$1.94 trillion) in april compared with 1.86 quadrillion won the previous year according to the bank of korea.
from a month earlier the country's m2 rose 0.4 percent on a seasonally adjusted basis slowing from a 0.5 percent gain in march according to south korea's (yonhap) news agency.
m2 includes currency in circulation as well as all types of deposits with a maturity of less than two years at lenders and non-banking financial institutions excluding those held by insurers and brokerage houses.
in a separate statement the central bank said the growth of south korea's m2 is estimated to have remained in the mid-5 percent range in may.
the statement also said bank lending growth slowed in may as demand for home-backed loans fell from a month earlier. outstanding household loans extended by lenders rose by 1.2 trillion won in may compared with 2.1 trillion won the previous month.
the central bank credited the on-month fall to a slowdown in housing transactions with transactions of seoul apartments falling roughly 30 percent in may.
the data was released one day ahead of the central bank's monthly rate-setting meeting. the bank is widely expected to hold the benchmark seven-day repo rate at 2.5 percent for the 13th straight month. (qna)
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