Danish central bank ends negative rates experiment

national-bank-of-denmark

The National Bank of Denmark has increased its deposit rate into positive territory for the first time in almost two years – a decision that has shocked many local banks that forecast negative rates into 2015.

The Danish krone is pegged to the euro under the European Exchange Rate Mechanism (ERM II), and the central bank sets its interest rates at a level that will maintain the peg.

The central bank eased monetary policy steadily in the wake of the financial crisis and, as the benchmark rate app

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