SEOUL, June 12: Annual growth in South Korea’s broadest measure of money supply picked up in April from a 21-month low seen in March but was still relatively low with the economy slow to gain traction, central bank data showed on Wednesday.
The L-money supply measure – which includes all cash, all types of deposits at financial institutions and all money market instruments issued – rose 7.6 percent in April from a year earlier, the Bank of Korea data showed.
The money supply measure grew 7.1 percent in March, the slowest growth since mid-2011.
Meanwhile, separate data showed bank lending to households rose by a net 2.6 trillion won ($2.29 billion) in May, boosted by a modest pickup in the real estate market — mainly in apartment transactions.
It was the biggest rise posted since a 4.9 trillion won increase seen in December last year.
($1 = 1133.2500 Korean won)
(AGENCIES)
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