Oslo - The Norwegian central bank eased credit conditions Wednesday, ordering a 50 basis points cut in its lead rate, to 5.25 per cent.

The bank said the move came amid the need to improve banks' access to capital markets.

The rate cut of one-half percentage point follows on the same- sized reductions carried out last week by the Fed, the European Central Bank and other leading central banks in a bid to ease credit market conditions. (dpa)