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Article: Denmark's Central Bank trims its key lending rate by five basis points
- Article from:
- AP Worldstream
- Article date:
- August 9, 2002
CopyrightProvided by ProQuest LLC. (Hide copyright information)
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Dateline: COPENHAGEN, Denmark
Denmark's central bank on Friday trimmed its key lending rate five
basis points to 3.5 percent from 3.55 percent, citing high foreign
currency reserves and a strong Danish krone.
The bank left the discount rate unchanged at 3.25 percent.
Denmark's foreign currency reserves stood at an all time record 182.3
billion kroner (dlrs 24.2 billion) at the end of July.
Denmark is one of three European Union nations that have not adopted
the euro.
But the central bank's policy is to fix the ...