Pressure builds on Denmark as central bank slashes rate
Danish central bank's negative deposit rate now equals that of Swistzerland
The Danish central bank has cut its deposit rate for the fourth time in less than three weeks, spending more than 100 billion krone from its foreign currency reserves to defend the currency's peg against the euro, as it battles markets in the wake of Switzerland's decision to remove a de facto peg in EUR/CHF.
The central bank cut its deposit rate by 25 basis points to -0.75%, bringing it in line with Switzerland's – the lowest rate in the world – and significantly below the European Central Bank
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