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Danish Central Bank Cuts Key Rate in Line With ECB Move
Denmark’s central bank mirrored its European counterpart and cut its benchmark interest rate by 25 basis points in order to protect its currency peg. Nationalbanken, which doesn’t hold scheduled meetings, reduced its current account rate to 2.85% from 3.1%, it said on Thursday. It’s the Nordic nation’s third easing move this year and comes after the European Central Bank lowered its key deposit rate by the same margin earlier in the day. A 1:1 match with the ECB was expected by all economists surveyed by Bloomberg News, given the Danish central bank hadn’t intervened in the currency market in prior weeks, ... (full story)
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- Posted: Oct 17, 2024 2:26pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 3,884
