World Record Holder in Negative Rates Drives Danes to a New Low
- Never in Danish history have retail deposit rates been lower
- Denmark first drove key rate below zero in middle of 2012
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In Denmark, where interest rates have been below zero longer than anywhere else, another record was just set.
The average interest rate on ordinary retail deposits has reached the lowest in the country’s history, at 0.08 percent, according to April numbers published by the central bank this week. That average covers a zero rate on two-thirds of ordinary deposits and 0.23 percent on the final third.