Currency speculators losers in Denmark's peg battle: IMF
Copenhagen
THREE months after Denmark became the target of a speculative attack against its currency regime, the International Monetary Fund (IMF) says the country's central bank has gained credibility after forcefully fighting back the onslaught.
Policymakers "did a good job of making it clear that the peg would stand and making it clear that it would be unprofitable to speculate against it", said Thomas Dorsey, the IMF's mission chief to Denmark. "Having for a generation-plus maintained the peg against pressure in both directions, they gain credibility each time and they did it again this time around."
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Vietnam tycoon appeals against US$27 billion fraud death sentence
US announces new restrictions on firearm exports
Central banks will probably only cut half as much as they hiked
US consumer sentiment falls as inflation expectations climb
HSBC wins £1.3 billion suit over Disney film finance scandal
WTO countries to reboot dispute reform negotiations