Denmark hikes deposit rate after record drop in reserves
Capital outflows accelerated in December following ECB actions
The National Bank of Denmark hiked its deposit rate and reduced the sum of bank deposits spared the negative rate on January 7.
Having weathered a crisis of speculative inflows in 2015, the central bank is now being forced to lean against rapid outflows. It raised the rate on certificates of deposit 10 basis points to -0.65%, pointing out in a statement this narrowed the spread against the European Central Bank's (ECB) deposit rate to 35 basis points. All other rates remain unchanged.
At the
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