Danish central bank lowers key interest rate to 1.65 percent, following ECB cut

Denmark cuts key interest rate to to 1.65 percent

COPENHAGEN — Denmark’s central bank says it has cut its key interest rate by 0.35 percentage point to 1.65 percent.

Denmark’s Nationalbanken says the decision was a consequence of a rate cut by the European Central Bank earlier in the day. The ECB cut its main interest rate by a quarter point to 1 percent.

Although an EU member, Denmark isn’t part of the euro zone but routinely tracks ECB changes, as part of a policy to keep the national currency, the krone, stable against the euro.

Nationalbanken also said Thursday it lowered its discount rate and the current account rate by 0.35 percentage point to 1.40 percent.

The reductions take effect on Friday.