The amount of money in December 13 trillion in a month↑… 9 trillion in households
5 trillion companies ↑… 9.8% more money than a year ago
(Seoul = Yonhap News) Reporter Shin Gyeong = In the new coronavirus infection (Corona 19) and low interest rate environment, the amount of money in the market continues to increase as the demand for funds from households and companies increases.
According to the statistics of’currency and liquidity’ released by the Bank of Korea on the 17th, in December last year, the amount of money in the wide range (based on M2) was KRW 319.1 trillion, an increase of KRW 13 trillion (0.4%) from November.
In the broad sense of the monetary volume index M2, cash, demand deposit, occasional deposit (more than M1), MMF (Money Market Fund), term deposit less than 2 years, savings account, profit certificates, CD (transferable deposit certificate), RP (repurchase conditional) Bonds), financial bonds less than 2 years, money trusts less than 2 years, and short-term financial products that can be converted into cash immediately.
Although the increase rate from the previous month was lower than in November (0.9%), the absolute size of M2 (31.93 trillion won) as of the end of December is still 9.8% higher than in December 2019.
By subject, households and non-profit organizations increased by 8 trillion won and 5 trillion won in enterprises. On the other hand, it fell by 4.5 trillion won in other financial institutions.
Among financial products, regular deposits and installments for less than two years (8,6 trillion won) and occasional deposits and withdrawals (7 trillion 900 billion won) have increased.
An official from the BOK explained, “The amount of money for companies has increased mainly for regular deposits and savings accounts for less than two years, and for households, the amount of money for households has increased mainly for savings-type deposits.”
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