Denmark makes third cut in six weeks

national-bank-of-denmark

The National Bank of Denmark on Thursday cut its benchmark rate by ten basis points for the third time since mid August in a bid to stop the krone's appreciation.

The central bank cut the lending rate to 1.25% with effect from Friday, saying that the reduction was the result of foreign-exchange purchases in the market. Its rate on certificates of deposits was cut to 1.15%, but its discount rate and interest rate on banks' current accounts were kept at 1%.

The krone is pegged to the euro, with th

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