丹麥央行將存款利率降至歷史低點

The Danish central bank has bowed to pressure and cut interest rates to a record low as currency speculators search for their next target after forcing Switzerland to abandon its defence of the franc.

丹麥央行迫於壓力，已將利率降至創紀錄低點。目前貨幣投機者在迫使瑞士放棄捍衛瑞郎匯率之後，正尋找下一個目標。

The decision by Denmark’s Nationalbanken to cut its deposit rate from minus 0.05 per cent to minus 0.20 per cent, equal to the record low of 2012, also comes ahead of the expected launch of the European Central Bank’s programme of quantitative easing this week — an initiative that would probably add to pressure on the krone.

丹麥央行(Nationalbanken)將存款利率由負0.05%降至負0.20%，與2012年的歷史低點持平。這一決定也是在歐洲央行(ECB)預計將在本週推出量化寬鬆政策之前做出的。這一政策很可能加大丹麥克朗所受的壓力。

Markets have been full of chatter about whether Denmark’s strict peg to the euro could be the next target of investors after last week’s move by the SNB to end its ceiling on the franc-euro exchange rate.

在上週瑞士央行(SNB)放棄瑞士法郎兌歐元的匯率上限之後，與歐元剛性掛鉤的丹麥克朗是否可能成爲投資者的下一個目標，成了市場熱議的話題。

“The Danish central bank appears to have clarified the FX market’s next target — the euro-Danish krone peg,” said analysts at Citi.

花旗(Citi)分析師表示：“丹麥央行似乎亮明瞭外匯市場的下一個目標——歐元與丹麥克朗的掛鉤。”

Danish economists have underlined how Switzerland’s ceiling was always described as a temporary device while Denmark’s peg to the euro is the sole target for its central bank, which aims to keep the krone in a tight band with the single currency.

丹麥經濟學家強調稱，瑞士設置的上限一向被稱爲一種臨時策略，而盯住歐元是丹麥央行的唯一目標，旨在使丹麥克朗與歐洲單一貨幣保持較窄的波動幅度。

Denmark’s monetary policy is aimed at keeping the krone within 2.25 per cent on either side of the currency peg of DKr7.46 to the euro, but, in ­practice, the central bank has kept the fluctuations within a much narrower band.

丹麥貨幣政策的目的是使克朗圍繞1歐元兌7.46丹麥克朗的基準，在上下2.25%的區間內浮動，但在實踐中，央行一直將波幅保持在一個更窄的範圍內。