South Korea Posts Increase in June Money Supply
(MENAFN) South Korea’s money supply climbed for the third consecutive month, propelled by ongoing policy rate reductions, the Bank of Korea (BOK) reported Wednesday.
Seasonally adjusted broad money, known as M2, increased by 0.6 percent month-on-month in June, reaching 4,307.5 trillion won (approximately 3.12 trillion U.S. dollars). This follows a 1.1 percent rise in May, signaling sustained monetary expansion.
The BOK has lowered its benchmark interest rate four times since last October, with cuts of 25 basis points in October, November, February, and May, bringing the rate down to 2.50 percent. Market watchers continue to anticipate additional reductions during the latter half of the year.
Meanwhile, M1, or narrow money, remained flat in June after a 0.4 percent increase in May.
This trend underscores aggressive monetary easing efforts aimed at stimulating South Korea’s economy amid ongoing global uncertainties.
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