Bank of Korea reports modest November money supply growth
The Bank of Korea reported modest growth in key monetary aggregates for November 2025. Narrow Money (M1) and Liquidity of Financial Institutions (Lf) each rose by 0.1 percent month-on-month, while Broad Money (M2) remained unchanged.
Modest shifts in money supply
In November 2025, Narrow Money (M1), which includes currency in circulation and demand deposits, saw a slight increase of 0.1 percent on a seasonally adjusted, period-average basis.
Broad Money (M2), encompassing M1 plus time and savings deposits and money market funds, remained unchanged from the previous month.
Liquidity of Financial Institutions (Lf), a broader measure including M2 plus financial instruments like debentures and commercial papers, also recorded a modest rise of 0.1 percent.
Overall Liquidity (L) showed a slightly stronger growth rate, increasing by 0.4 percent.
Annual growth rates moderate
On a year-on-year basis, the original series for M1 registered a growth of 6.9 percent in November.
M2 showed a more moderate annual increase of 4.8 percent.
Both Lf and L also demonstrated annual growth, with Lf increasing by 6.9 percent and L by 6.8 percent.
These figures reflect the broader trends in the Korean financial system over the past year.