S.Korea end-June household credit growth hits nearly 15-year low
SEOUL, Aug 22 (Reuters) - South Korea's outstanding
household debt grew at its slowest year-on-year pace in almost
15 years in the June quarter, central bank data showed on
Households owed 1,556.1 trillion won ($1.29 trillion) in
loans and purchases on credit as of the end of June, up 4.3%
on-year after a 4.9% gain three months earlier, the Bank of
Korea data showed.
It was the slowest growth since the September quarter of
2004, with the pace having fallen for 10 consecutive quarters
following government efforts to contain the high household debt
to disposable income ratio.
Slowing household debt growth is also widely seen as
supportive of further policy easing by the central bank as
Asia's fourth-largest economy struggles with softer growth and
($1 = 1,205.1000 won)
(Reporting by Choonsik Yoo; Editing by Sam Holmes)
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