Denmark's central bank cut its key lending rate by 10 basis points to 1.05 percent to ease strengthening pressure on the crown currency on Thursday, in a surprise move just a week after its last cut. As a result the average rate set by 11 leading central banks - the five that decide monetary policy for the G7 nations plus six other major banks - fell to 1.05 percent from 1.08 percent. On May 7, the European Central Bank cut its main interest rate by 25 basis points to 1.0 percent. As a result, the average rate set by central banks of the Group of Seven nations fell to 0.40 percent from 0.45 percent. >>
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