Korea's money supply up 5.1% in July: BOK

The money supply in South Korea jumped 5.1 percent in July from a year earlier, the central bank said Tuesday.

The nation's M2 totaled 2,472.1 trillion won ($2.18 trillion) in July, compared with 2,352.2 trillion won a year earlier, the Bank of Korea said in a statement.
 

The money supply fell 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. (Yonhap)