Lending was down amid perceived credit risks and rising interest rates, ECB research has found Banks across the eurozone have significantly curbed lending amid a continued increase in borrowing costs, according to a European Central Bank (ECB) survey released on Tuesday. The report indicated that from a historical perspective, the pace of net tightening in credit standards in the first quarter of 2023 remained at the highest level since the euro-area sovereign debt crisis in 2011. The ECB survey showed that the decline in net demand from enterprises was higher than in the previous three months, and the biggest si
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