Denmark Matches ECB Rate Cut to Defend Currency Peg
Denmark 's central bank cut its benchmark rate by a quarter point, aligning with its European counterpart to defend the krone's peg to the euro.
Nationalbanken lowered its current account rate to 2.1% from 2.35%, it said on Thursday, after the European Central Bank reduced its borrowing costs by the same margin earlier in the day. The move, its sixth cut in the current cycle, was widely anticipated by economists surveyed by Bloomberg who expect Denmark to preserve its current rate differential to the euro area.
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