Denmark ends nearly decade-long era of negative interest rates

COPENHAGEN: Denmark's central bank raised its key interest rate by 0.75 percentage points to 0.65% on Thursday, ending a nearly decade-long experiment of negative interest rates.

"The interest rate increase is a consequence of the increase by the European Central Bank of its main monetary policy rate" the central bank said in a statement.

Earlier on Thursday, the ECB raised its benchmark deposit rate by 75 basis points to 0.75% and signaled further hikes.

Denmark's current account rate, which is the benchmark rate, and the certificate of deposit rate were each raised by 75 basis points to 0.65% from -0.1%. The lending rate was also raised by 75 basis points to 0.8% from 0.05%.