Denmark trims key lending rate to 1.05 percent
14/01/2010 - Business Week
Denmark's central bank on Thursday trimmed its key lending rate by 0.10 percentage points to 1.05 percent, an effort to keep the national currency stable against the euro.
Denmark is a member of the 27-nation European Union but has stayed outside the bloc's 16-member euro zone.
The central bank, or Nationalbank, typically follows European Central Bank changes as part of a policy of trying to keep Denmark's currency, the krone, stable against the euro. However, it also tweaks the key lending rate when foreign currency markets push the krone up or down against the euro to keep the exchange rate steady.
The ECB on Thursday left its key interest rates unchanged.
Nationalbank's rate of interest on certificates of deposit was lowered by 0.10 percentage points to 0.80 percent, while the current account rate was lowered by the same amount to 0.70 percent. The discount rate was reduced by 0.25 percentage points to 0.75.
The rate changes come into effect Friday.
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