30 Jan 2015
Danish central bank cuts rates further – Danske
FXStreet (Barcelona) - The Danske Bank Research Team shares that the Denmark Central Bank cut its deposit rates further by 15bp to -0.50% as DKK continued to appreciate.
Key Quotes
“Yesterday Denmarks Nationalbank (DN) cut the certificates of deposit (CD) rate by 15bp to a historical low of -0.50%.”
“The cut was the third 15bp rate cut in less than two weeks and shows that the appreciation pressure on the DKK has continued even after several rate cuts.”
“Although we are in an unusual situation, the reaction from DN has so far been business as usual: first intervention and then a rate cut.”
“We cannot rule out DN having to cut the CD rate further into the negative.”
Key Quotes
“Yesterday Denmarks Nationalbank (DN) cut the certificates of deposit (CD) rate by 15bp to a historical low of -0.50%.”
“The cut was the third 15bp rate cut in less than two weeks and shows that the appreciation pressure on the DKK has continued even after several rate cuts.”
“Although we are in an unusual situation, the reaction from DN has so far been business as usual: first intervention and then a rate cut.”
“We cannot rule out DN having to cut the CD rate further into the negative.”