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Another central bank pledges 'whatever it takes'
Danish Central Bank Fiercely Defends Currency Peg
By Richard Milne
Financial Times, London
Friday, February 6, 2015
Denmark's central bank governor pledged to face down speculators testing its currency peg to the euro, saying he would do "whatever it takes" to defend it.
Lars Rohde told the Financial Times that Nationalbank could "go on forever" defending the peg, after lowering interest rates four times in three weeks to a global record low of minus 0.75 per cent. It has also swelled its balance sheet to a record size by printing krone in an attempt to weaken the Danish currency.
"The main message is that we are ready to do whatever it takes to defend the peg. We have unlimited access to Danish krone and we have no restrictions on our balance sheet," he said, in his first public comments since the recent quadruple rate cuts. ...
... For the remainder of the report:
http://www.ft.com/intl/cms/s/0/d3c385f6-adc6-11e4-919e-00144feab7de.html
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