Denmark's central bank cut the certificate of deposit rate to a record low of -0.35%, down from -0.2%. That was the second interest rate reduction in four days. The central bank wants to ward off further appreciation of the krone.

The cut came after the European Central Bank announced an asset purchases programme of 60 billion euros a month.

The central bank said that it has intervened before the cut.

The Danish krone is pegged to the euro.