Denmark rejects flatly speculation that the country will follow Switzerland and walk away from fixed exchange rate policy. Monday was still yields surprising cut in Denmark.
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The Danish central bank – National Bank – surprised Monday afternoon markets with to reduce interest rates by 0.15 percentage points. The deposit rate is now at minus 0.2 per cent, while the lending rate is 0.05 percent. The reasons are the prospects of the European Central Bank (ECB) should start massive acquisitions of European sovereign debt and unrest around the Swiss franc.
Switzerland shocked global markets when the central bank last week rejected fixed exchange rate policy against the euro. Since then, reports of funds, banks, businesses that have lost billions, flowed into. Meanwhile, the stories about the personal tragedies to individuals who sit with loans in Swiss francs, increasing numbers.
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