February 12, 2014 / 3:01 AM / 3 years ago

S.Korea Dec L-money supply growth ticks down from Nov

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SEOUL, Feb 12 (Reuters) - South Korea's broadest measure of money supply grew at a slightly slower annual pace in December compared with the previous month, central bank data showed on Wednesday, as the economy recovers at a slow but steady pace.

The L-money supply measure, which includes all cash, all types of deposits at financial institutions and all money market instruments issued, rose 7.1 percent in December from a year earlier, the Bank of Korea data showed.

That compared with a 7.4 percent year-on-year rise in November but was higher than 6 percent growth seen in mid-2013.

Separate data from the Bank of Korea showed bank lending to households fell by a net 2.6 trillion won ($2.4 billion) in January as a set of tax exemptions expired at the end of the year and cold weather weighed on the housing market.

It was the first fall in lending since February last year and the biggest decline in borrowing since a 3.5 trillion drop in January 2013.

The data comes a day before the Bank of Korea's monthly policy meeting, at which it is widely expected to hold rates steady at 2.50 percent for a ninth month. ($1 = 1070.8500 Korean won) (Reporting by Christine Kim; Editing by Chris Gallagher)

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