FRANKFURT (MNI) – Credit standards for households in Norway
tightened somewhat in the first quarter of 2010 while easing for
businesses, the Norges Bank reported Thursday in its Bank Lending
Survey.
There was also falling demand for household credit in Q1, the
Norwegian central bank said, adding that corporate credit continued to
increase in the quarter.
“Banks expect higher credit demand ahead for both households and
enterprises,” the bank wrote.
Last quarter, “credit standards for households were tightened
somewhat, while credit standards for enterprises were eased further,”
the bank explained.
“In the period ahead, banks expect broadly unchanged credit
standards for households and a further easing for enterprises,” Norges
Bank said.
The bank lending survey was carried out between March 26 and April
9. Banks were asked to assess developments in credit standards and
credit demand in Q1 compared with Q4 2009, and expected developments in
Q2 versus Q1.
Norges Bank’s key interest rate currently stands at 1.75%; it has
been at this level, 50 bps above its all-time low, since December 17.
–Frankfurt bureau; +49-69-720142; frankfurt@marketnews.com
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