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Denmark cuts rate to -0.75%, same rate as the Swiss
[COPENHAGEN] Denmark's central bank cut its key policy rate on Thursday for the fourth time in three weeks, dropping it to -0.75 per cent - the same level as the Swiss National Bank's rate.
It also issued an unusual statement from Central Bank Governor Lars Rohde indicating that the bank would continue intervening in the foreign exchange market to keep the crown currency within a tight range to the euro.
"The Danish National Bank has the necessary instruments to defend the fixed exchange rate policy for as long as it takes,"he said in the statement.
"There is no upper limit to the size of the foreign exchange reserve."