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Danish Central Bank Announces Increases to Both the Deposit and Lending Rates |
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European Economy |
Written by CEP News |
Oct 07 08 16:33 GMT |
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(CEP News) Frankfurt - Danmarks Nationalbank announced on Tuesday that it would be increasing its official lending rate to 5.00% from 4.6% in an effort to boost the Danish krone. At the same time, the central bank also decided to raise its official discount rate 25 basis points to 4.5%. Both increases will take effect on Oct. 8.
"Danmarks Nationalbank has intervened in the foreign-exchange market to support the krone," the Danish central bank said in a press release. "The intervention has now reached a point which leads to Danmarks Nationalbank's increase of the lending rate." By Todd Wailoo,
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, edited by Sarah Sussman,
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