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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 30, 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 3.45 percent from 3.50 percent, citing a strong Danish
krone and high foreign currency reserves.
The bank left the discount rate unchanged at 3.25 percent.
Denmark is one of three European Union nations that have not adopted
the euro.
But the central bank's policy is to fix the Danish krone to the common
currency so it trades no more than 2.25 percent above or below a parity
level of 7.46038 krone per euro. The past year it has been trading
on the strong side of parity and on Friday it stood around 7.4248,
the strongest level since the euro was first ...