Denmark Cuts Deposit Rate for Third Time in 10 Days to Defend Currency Peg
The old stock exchange building and the central bank headquarters in Copenhagen, Denmark, on Sept. 23, 2014.
Photographer: Freya Ingrid Morales/BloombergThis article is for subscribers only.
Even after delivering its third rate cut in 10 days, Denmark probably hasn’t done enough to fight back investors eager to hold krone-denominated assets.
Svenska Handelsbanken AB, Danske Bank A/S and BNP Paribas SA all say the central bank in Copenhagen may need to continue cutting rates to defend its currency’s peg to the euro.