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Denmark cuts interest rate by 0.75 point
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COPENHAGEN, Denmark - Denmark's central bank on Thursday lowered its key interest rate by 0.75 percentage point to 4.25 percent, mirroring a cut by the European Central Bank.
The Nationalbank said the decision was a consequence of the ECB's lowering of its rate to 2.5 percent from 3.25 percent.
Denmark's central bank lowered its discount rate and the current account rate by half a percentage point, to 3.50 percent. The reductions take effect on Friday.
European Union member Denmark is not part of the 15-country euro zone, but closely follows the moves of the ECB and raises or lowers its rates accordingly.
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http://nationalbanken.dk/dnuk/specialdocuments.nsf
Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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