Denmark's central bank again cuts deposit for the third time in two weeks

The Danish central bank has cut its deposit rate to - 0.5% in a bid to fight building pressures on its currency peg against the flagging euro.

Danmarks Nationalbank had already slashed the deposit rate twice in January, initially in the wake of the Swiss National Bank's decision to scrap its three-year currency cap on the franc, then following the European Central Bank's announcement of a €60bn-a-month quantitative easing programme.

On Thursday, Denmark's central bank cut its deposit rate by an additional 15 basis points to - 0.5%, while keeping its lending, discount and current account rates unchanged.

The institution also announced it had intervened in the currency market, to ensure the krone remained at around 7.45 per euro.