S. Korea's money supply growth registers 9.3 pct in May

16:35, July 08, 2010      

Email | Print | Subscribe | Comments | Forum 

South Korea's money supply grew 9.3 percent year-on-year in May, keeping its growth pace from a month ago, the central bank said Thursday.

According to a report by the Bank of Korea (BOK), the country posted 1,630.9 trillion won (1.35 trillion U.S. dollars) for its M2, the country's widely-used measure of money supply, as of end- May, up from the previous month's 1,621 trillion won (1.35 trillion U.S. dollars).

Compared to the 9.4 percent on-year growth registered in April, the 9.5 percent gain in May reflected that the nation's liquidity growth is stabilizing compared to the previous year, BOK officials said.

Meanwhile, the nation's M1, a narrower gauge of liquidity, stood at 394.9 trillion won (326.6 billion U.S. dollars) as of end- May, expanding 10.9 percent from a year ago.

The M1 gain also maintained the previous level that registered an annual 10.8 percent in April, also pointing that inflationary pressure is stabilizing.

Based on the liquidity data, which came a day ahead of the nation's monthly rate setting meeting, local analysts are predicting that South Korea will have its key rate frozen in July for the 17th consecutive month.

Despite growing concerns that the central bank should withdraw its monetary expansionary policies in the second half, the central bank has been citing a slower recovery pace and overseas financial jitters as they maintained the rate as the status quo.

The BOK cut the rate by a total of 3.25 percentage points between October 2008 and February 2009 in the midst of the global financial slump.

Source:Xinhua

(Editor:黄蓓蓓)

  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • On Sept. 28, tourists travel around the Mingshashan Scenic Area in Dunhuang, Gansu province by camel. With the National Day vacation right around the corner, more and more tourists from home and abroad are going to Dunhuang. Riding on a camel, they travel in the desert to enjoy the cities rare form of natural scenery. (Xinhua/Zhang Weixian)
  • Chinese forest armed forces work together with forest firefighters on Sept. 28. (Xinhua/Chai Liren)
  • Photo taken on Sept. 29, 2011 shows strong wind blows trees in Sanya, south China's Hainan Province. Typhoon Nesat heads towards south China and is moving at an average wind speed of 20 km per hour toward the west coast of China's Guangdong Province. (Xinhua/Hou Jiansen)
  • A fallen tree is seen on a road in Qionghai, south China's Hainan Province, Sept. 29, 2011. Typhoon Nesat was predicted to land in Hainan later Thursday, bringing heavy rainfalls to the island. (Xinhua/Meng Zhongde)
  • Arash Kamalvand (L) of Iran spikes the ball during the semifinal against South Korea at the 16th Asian Men's Volleyball Championship in Tehran, Iran, Sept. 28, 2011. Iran won 3-1 to advance to the final. (Xinhua/Ahmad Halabisaz)
  • A man visits "Thy Word Is Truth, the Bible Ministry Exhibition of the Protestant Church in China", during its opening at Mount Vernon Place United Methodist Church in Washington DC, capital of the United States, Sept. 28, 2011. Through the Bible's various Chinese versions, ancient or modern, as well as pictures, paintings, calligraphy, art works and historical documents, the exhibition was expected to give an overall understanding of how Bible was brought into China, how it was translated, published, distributed and loved. (Xinhua/Zhang Jun)
Hot Forum Discussion