Friday, October 24, 2008

Financial turmoil

Denmark is among the many nation beset by the fall out of the US mess.

Denmark's central bank Friday raised its key policy rate for the second time this month to prop up the country's struggling currency as the global financial crisis continues to wreak havoc.Danmarks Nationalbank said it increased its key lending rate and the interest rate for certificates and deposits to 5.5% from 5% "as a result of continued intervention to support the Danish krone." Thursday, Sweden surprised markets with another half-point rate cut to 3.75%.

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