SEOUL, Aug. 13 (Xinhua) -- South Korea's money supply rose for the third successive month due to additional policy rate cuts, central bank data showed Wednesday.
The seasonally-adjusted M2, or broad money, expanded 0.6 percent to 4,307.5 trillion won (3.12 trillion U.S. dollars) in June compared to the previous month, after growing 1.1 percent in May, according to the Bank of Korea (BOK).
The central bank cut its benchmark interest rate by 25 basis points in February and May each to 2.50 percent after lowering it by the same basis points in October and November last year.
Expectations remained for further rate cuts in the second half of this year.
The M1, or narrow money, was unchanged in June on a monthly basis after gaining 0.4 percent in the prior month. ■
