Tuesday, a survey conducted by Norway's central bank showed that banks tightened the credit standards for corporate loans in the first quarter, and are expected to tighten it further in the second quarter. Credit standards for households were unchanged in the first quarter, and are expected to remain unaltered even in the second quarter.

Demand for loans by businesses declined in the first quarter from the fourth quarter, and is expected to fall further in the second quarter. Demand for loans fell by the households in the first quarter, but the Norges bank expects it to pick up in the second quarter.

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