Denmark cuts rate for third time in 11 days
Deposit rate drops 30 basis points below ECB equivalent to -0.5%
The National Bank of Denmark has cut its deposit rate for the third time in two weeks.
Today's cut of 15 basis points pushes the rate down to –0.5%, and follows earlier cuts on January 19 and January 22.
The central bank put out a short statement explaining the decision following the central bank's "purchase of foreign exchange in the market". Its other interest rates remain unchanged.
With this latest cut, the deposit rate drops significantly below the equivalent of the European Central Bank
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