Danish central bank acts to counter negative interest rate

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The National Bank of Denmark today announced a 0.25 percentage point cut in key interest rates, meaning the rate applied to certificates of deposit will tomorrow slip into negative territory for the first time.

Effective from July 6, the lending rate, interest rate on certificates of deposit and discount rate will all be lowered. The current account rate will remain unchanged.

"The interest rate reduction is a consequence of the reduction by the European Central Bank of its monetary policy rates

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