Denmark bucks trend with rate hike

The National Bank of Denmark unexpectedly raised rates by half a point to 5.5% on Friday to support the krone.

The move leaves the key lending rate at its highest level since October 2000.

Riksbank

Denmark is the first developed country to tighten policy since the European Central Bank (ECB) raised its main refinancing rate a quarter point on 3 July Most, including the ECB and Denmark's Nordic neighbours Sweden and Norway, have loosened since Lehman Brothers, a failed investment bank, collaps

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