S. Korea's bank deposits increase by fastest rate amid COVID-19
Arirang News
2020-07-27
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코로나19 사태로 돈 풀었더니…예금 109조 '폭증'
The amount of bank deposits put into savings accounts in South Korea has risen by the fastest rate in history..., despite the government's efforts to boost consumption amid COVID-19.
The Bank of Korea said Monday that deposits for the first half of the year reached almost 91-billion U.S. dollars.
That's more than double the figure for the first half of 2019.
According to the central bank, while firms and households have borrowed more money to overcome the economic difficulties posed by COVID-19..., they are apparently keeping that money in savings accounts while they wait for the right time to spend it.
Experts say this in part shows that the government's policies to boost economy are not having a big enough impact on the market.
The amount of bank deposits put into savings accounts in South Korea has risen by the fastest rate in history..., despite the government's efforts to boost consumption amid COVID-19.
The Bank of Korea said Monday that deposits for the first half of the year reached almost 91-billion U.S. dollars.
That's more than double the figure for the first half of 2019.
According to the central bank, while firms and households have borrowed more money to overcome the economic difficulties posed by COVID-19..., they are apparently keeping that money in savings accounts while they wait for the right time to spend it.
Experts say this in part shows that the government's policies to boost economy are not having a big enough impact on the market.
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