Denmark follows SNB with deposit rate cut

FXStreet (London) - Following the Swiss National Bank’s announcement last week, the Danish Central Bank today announced that it would be cutting its deposit rate to -0.2 percent from -0.05 percent.

In a statement, the Danish Central Bank announced that effective from 20 January 2015, its lending rate and interest rate on certificates of deposit are reduced by 0.15 percentage point. The discount rate and the current account rate are unchanged.

The interest rate reduction follows the Danish Central Bank’s purchase of foreign exchange in the market.
Danmarks Nationalbank's interest rates are:

- Lending rate: 0.05 per cent
- Certificate of deposit rate: -0.20 per cent
- Current account rate: 0.00 per cent
- Discount rate: 0.00 per cent.