S.Korea October L-money supply growth rises to 6-month high
SEOUL Dec 11 (Reuters) - South Korea's broadest gauge of money supply growth picked up in October to its highest since April this year, central bank data showed on Wednesday, as Asia's fourth-largest economy perks up.
The L-money supply measure, which includes all cash, all types of deposits at financial institutions and all money market instruments issued, expanded 7.4 percent in October compared with a year earlier.
October's growth was the quickest since a 7.6 percent rise in April, reflecting more money circulating through the country's financial system.
Separate data from the Bank of Korea showed bank lending to households rose 3.1 trillion won ($2.95 billion) in November, after a 2.5 trillion won gain in October.
It was the biggest increase since a 4.8 trillion won rise in June this year, the central bank data showed, as South Korean households borrow for real estate transactions as the housing market gains momentum.
Housing prices across South Korea rose for a third straight month in November on a monthly basis and also reversed a 11-month run of annual declines last month, data showed last week. ($1 = 1052.2000 Korean won) (Reporting by Christine Kim; Editing by Chris Gallagher)
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