LONDON (MarketWatch) — The Danish central bank on Thursday lowered its deposit rate for the fourth time in less than three weeks, in an effort to defend the krone’s peg to the euro. The deposit rate was cut to negative 0.75% from negative 0.5%. It’s only a week ago that the Danish National Bank slashed the deposit rate, following earlier rate cuts on Jan. 19 and Jan. 22. “Following the decision by the Swiss National Bank to discontinue the minimum exchange rate and the decision by the European Central Bank to launch an expanded asset-purchase program, there has been a considerable inflow of foreign currency,” the Danish central bank said in the release on Thursday. The pressure on the krone/euro peg has sparked speculation that Denmark, like Switzerland, will have to abandon its exchange cap, but the country’s central bank governor Lars Rohde on Thursday killed that notion. “The fixed exchange-rate policy is an indispensable element of economic policy in Denmark — and has been so since 1982. Danmarks Nationalbank has the necessary instruments to defend the fixed exchange rate policy for as long as it takes,” he said.