Denmark Announces Currency Peg is "Secure"; 12 Denials in 1 Day; Deposit Rate Cut to -0.20%; More Rate Cuts Coming?

Because of increase strength in the Krone and speculation Denmark would abandon its peg, Danish central Bank Slashes Rates to -20bps . The central bank in Copenhagen lowered its deposit rate to minus 0.2 percent from minus 0.05 percent, according to a statement today. The lending rate was cut to 0.05 percent from 0.2 percent.

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Denmark Announces Currency Peg is "Secure"; 12 Denials in 1 Day; Deposit Rate Cut to -0.20%; More Rate Cuts Coming?