The key interest rates at Denmark’s central bank have been cut by 25 basis points following the European Central Bank’s reduction of its main monetary policy rate.
As part of a statement, the bank explains, “The interest rate reduction is a consequence of the reduction by the European Central Bank of its main monetary policy rate, the deposit facility rate, by 0.25 percentage points.”
This news comes after the European Central Bank made the move to cut its interest rates on Thursday 17th April.
Denmark’s central bank’s benchmark interest rates and the certificate of deposit rate were cut by 25 basis points to 1.85%.
The country’s central bank’s main aims are to keep the Danish Krone stable against the Euro, mostly through the bank’s interest rate moves and currency interventions.