Denmark cuts main rate, mirroring ECB’s move
Scandinavian central bank has pegged the krone to the euro since the single currency’s launch
The National Bank of Denmark reduced its headline interest rate on September 12 in order to defend the krone’s peg to the euro.
The Scandinavian central bank reduced the interest rate on certificates of deposit by 10 basis points to –0.75%. This followed the European Central Bank rate cut of 10 basis points in its deposit rate to –0.5%.
The Danish lending rate remained unchanged at 0.05%, the current account rate at 0%, and the discount rate also at 0%. “The interest rate reduction is a
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