May 09, 2024
Economy
Korea’s money supply up 5% in Sept.
[THE INVESTOR] The money supply in Korea jumped 4.6 percent in September from a year earlier, the central bank said on Nov. 8.
The nation’s M2 totaled 2,492.3 trillion won (US$2.23 trillion) in September, compared with 2,383 trillion won a year earlier, the Bank of Korea said in a statement.
The money supply rose 0.2 percent on-month, the statement said.
The growth rate of the money supply has been on the decline since October 2015 as companies decreased domestic credit.
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.
By Alex Lee and newswires (alexlee@heraldcorp.com)
