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Danish Krone: interest rates in Denmark?

  • 21-03-2020 10:21am
    Registered Users Posts: 3,398 ✭✭✭

    The Danes stayed out of the Euro, but they pegged the Krone to the Euro.

    How does this affect their interest rates? Does Denmark have control over its interest rates?

    I’m curious simply because not having control over interest rates has been disastrous for many Euro countries. Has Denmark fared better?




  • Registered Users Posts: 233 ✭✭Mach 3

    Danmarks Nationalbank hiked its interest rate on certificates of deposit is by 15bps to -0.60 percent at an emergency meeting on March 19th, contrasting with other central banks' moves that have been easing monetary policy amid the coronavirus outbreak. Policymakers say the decision aims to support the crown, which is pegged to the euro, and that the monetary policy spread to the euro area is thereby narrowed from -0.25 to -0.10 percentage points, remaining lower than the rate in the euro area. The other policy rates remain unchanged, with the lending rate at 0.05 percent, the current-account rate at 0.00 percent and the discount rate at 0.00 percent.

    You can get more info about Denmark in the link.