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South Korea’s Household Bank Loans Rise to 461.6 Trillion Won

South Korea’s bank lending to households rose 1.1 trillion won ($1 billion) last month to 461.6 trillion won as the central bank kept borrowing costs low.

Mortgage lending fell 0.2 trillion won to 311.9 trillion won, the Bank of Korea said in an e-mailed statement today. Loans to companies gained 2.4 trillion won to 600.8 trillion won.

The central bank will probably keep interest rates unchanged at 2.75 percent tomorrow after two cuts this year, according to 14 of 15 economists in a Bloomberg survey.

The broadest measure of money supply, M2, rose 0.2 percent in October from the previous month after a 0.1 percent gain in September, according to a separate central bank statement.

To contact the reporter on this story: Eunkyung Seo in Seoul at eseo3@bloomberg.net

To contact the editor responsible for this story: Paul Panckhurst at ppanckhurst@bloomberg.net

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