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Danish central bank cuts interest rate to 3 pct

Danish central bank cuts interest rate to 3 pct

Denmark's central bank on Thursday lowered its key interest rate by 0.75 percentage points to 3 percent.
The move came in response to an earlier decision by the European Central Bank to lower its rate by a half percentage point to 2 percent.
The Danish bank said its cut was even bigger "as a consequence of further purchase of foreign exchange in the market." Denmark's central bank seeks to keep its currency level against the euro by buying or selling foreign exchange and by changing its interest rates.
The central bank also lowered its discount rate and the current account rate by 0.75 percentage points to 2.75 percent. The reductions take effect on Friday.


Updated : 2021-04-22 09:17 GMT+08:00