16 Jan 2009

Denmark cuts key interest rate to 3%

6:43 am on 16 January 2009

The central bank in Denmark is to cut its key interest rate by 0.75 percentage points to 3%, following a rate cut announced by the European Central Bank.

In a statement, the Nationalbank said the reduction would take effect on Friday.

The ECB lowered its main interest rate by 0.50 points to 2% earlier on Thursday.

Denmark is not part of the euro single currency zone and tends to follow the ECB's lead on rate changes.