Danish central bank prepared to cut rates further in defence of peg
The Danish central bank will continue to cut its deposit rate if needed to defend the krone's peg to the euro, governor Lars Rohde has said, despite concerns the country's financial system might struggle to cope with negative interest rates.
The National Bank of Denmark lowered its deposit rate to -0.75% on Thursday – the fourth cut in 18 days – to discourage capital inflows prompted by quantitative easing in the eurozone.
"We will never tell anyone of our intentions and what our future planning
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