NEW YORK -- Demand for credit has picked up markedly since the end of 1993 and has contributed to this year's rise in interest rates, Kevin Logan, chief U.S. economist for Swiss Bank Corp., said in the Standard & Poor's Corp. publication Credit Week.

Mr. Logan said the aggregate credit demand had not received much attention from economists and analysts. but he warned that if it continues to accelerate. "we can be almost certain that interest rates. especially short-term interest rates, will continue to rise this year and well into 1995."

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