{"id":26031,"date":"2011-12-15T12:03:00","date_gmt":"2011-12-15T17:03:00","guid":{"rendered":"http:\/\/countingpips.com\/fx\/2011\/12\/15\/denmarks-nationalbank-cuts-rate-further-10bps-to-0-7\/"},"modified":"2011-12-15T12:03:00","modified_gmt":"2011-12-15T17:03:00","slug":"denmarks-nationalbank-cuts-rate-further-10bps-to-0-7","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/12\/15\/denmarks-nationalbank-cuts-rate-further-10bps-to-0-7\/","title":{"rendered":"Denmarks Nationalbank Cuts Rate Further 10bps to 0.7%"},"content":{"rendered":"

The Danmarks Nationalbank<\/a> cut its key lending rate by 10 basis points to 0.70% from 0.80% and reduced the current account rate 5bps to 0.25%, effective from 16 December.  The Bank also cut rates on the 8th of December following the ECB rate cut, at that time it cut the lending rate 40bps to 0.8%, and reduced its other interest rates by 25 basis points.  The Bank said in its press release: “The interest rate reduction follows Danmarks Nationalbank’s purchase of foreign exchange in the market.”<\/span>
<\/span><\/span><\/a><\/a>
<\/a>Denmark’s central bank last raised the <\/span>lending rate<\/a> by 25 basis points to 1.55% in July this year, after increasing the rate by <\/span>25 basis points<\/a> in April this year, mirroring the interest rate increases by the European Central Bank (<\/span>ECB<\/a>).  The Danish Central Bank typically follows the moves of the ECB in order to keep its currency, the Krone, stable.  Denmark reported an annual inflation rate of 2.6% in August and 2.9% in July, compared to 3.1% in May, and 2.9% in April this year.  <\/span><\/p>\n


The Bank also announced a new liquidity program<\/a> last month.  The Danish economy grew at a year on year rate of 2% in Q2, compared to 1.7% in Q1 2011 (2.9% in Q4 2010).  The Danish krone (DKK) has weakened about 3% against the US dollar this year, and last traded around 5.71.<\/span><\/span><\/div>\n

www.CentralBankNews.info<\/a><\/span><\/span><\/div>\n
\"\"<\/div><\/p>\n","protected":false},"excerpt":{"rendered":"

The Danmarks Nationalbank cut its key lending rate by 10 basis points to 0.70% from 0.80% and reduced the current account rate 5bps to 0.25%, effective from 16 December.  The Bank also cut rates on the 8th of December following the ECB rate cut, at that time it cut the lending rate 40bps to 0.8%, and reduced … <\/p>\n

Continue reading “Denmarks Nationalbank Cuts Rate Further 10bps to 0.7%”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-26031","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/26031","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=26031"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/26031\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=26031"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=26031"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=26031"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}