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Danmarks Nationalbank Cuts Rates AGAIN

Myles UdlandJan 29, 2015, 20:35 IST

The Danmarks Nationalban, Denmark's central bank, just cut interest rates even further into negative territory.

On Thursday, Danmarks Nationalbank took its main deposit rate to -0.5% from -0.35%.

Two weeks ago, the Danmarks Nationalbank cut interest rates twice as the bank works to defend its peg on the krone against the euro, which has fallen sharply in value.

In its statement, the Nationalbank said, "The interest rate reduction follows Danmarks Nationalbank's purchase of foreign exchange in the market."

More to come ...