money supply-September
Money supply up for 4th month in September amid tightening policy: BOK
SEOUL, Nov. 14 (Yonhap) -- South Korea's money supply rose for the fourth consecutive month in September amid tightening policy, central bank data showed Tuesday.
The country's M2, a key gauge of the money supply, stood at 3,847 trillion won (US$2.91 trillion) in September, up 0.5 percent from a month earlier, following the previous month's 0.2 percent gain, according to the preliminary data from the Bank of Korea (BOK).
The M2 is a measure of the money supply that counts cash, demand deposits and other easily convertible financial instruments.
The central bank has been implementing its restrictive mode, as it delivered seven consecutive hikes in borrowing costs from April 2022 to January 2023 to tame soaring inflation in Asia's fourth-largest economy.
South Korea's central bank held its key interest rate steady at 3.5 percent for the sixth straight time last month amid a slowdown in growth and heightened uncertainties, such as the prolonged Ukraine-Russia war and rising household debts.
It marked the sixth straight time that the BOK has stood pat following rate freezes in February, April, May, July and August.
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