Press Releases
On 26 September on interest rate increase
Danmarks Nationalbank's lending rate and the rate of interest on certi.ficates of deposit are raised by 0.10 per cent to 5.10 per cent. The increase will have effect as from 27 September 2000.
The interest rate increase is a consequence of today's tender opera.tions of the European Central Bank, resulting in an increase in the marginal rate.
The discount rate and the rate of interest on the banks' current accounts with the Nationalbank remain unchanged at 4.50 per cent.
For further information please contact Bjarne Skafte on telephone +45 33 63 60 21.
On 28 September from the Danish Government and Danmarks Nationalbank
Given the result of the referendum Denmark shall not abrogate its exemption from Danish participation in the euro.
Denmarks EU-membership remains unchanged.
Denmark will continue the present fixed-exchange-rate policy vis-à-vis the euro within the framework of the narrow band of EU's exchange rate mechanism, ERM II.
The Danish economy is fundamentally sound. Danmarks Nationalbank and the Government will follow developments in financial markets closely and stand ready if need be to take measures in order to maintain and continue the fixed-exchange-rate policy.
The Fiscal Bill for 2001 is based on Danish participation in the euro. The negotiations on the budget will start next week, and in this context the Government is ready to tighten fiscal policy if this should prove necessary to maintain Denmark's fixed-exchange-rate policy.
On 29 September on interest rate increase
The Danish fixed-exchange-rate policy will be maintained after yesterday's referendum.
There has recently been some pressure against the Danish krone. This has resulted in short-term interest rates that are significantly higher than the Nationalbank's official interest rates, and intervention in support of the krone by the Nationalbank.
In order to avoid uncertainty concerning the krone the Nationalbank's lending rate and the rate of interest on certificates of deposit are raised by 0.50 per cent to 5.60 per cent with effect from 29 September 2000.
The discount rate and the rate of interest on the banks' current accounts with the Nationalbank remain unchanged at 4.50 per cent.
For further information please contact Bjarne Skafte on telephone +45 33 63 60 21.
On 5 October on interest rate increase
The discount rate is raised by 0.25 per cent to 4.75 per cent. Likewise the rate of interest on the banks' current accounts with the Nationalbank is raised by 0.25 per cent to 4.75 per cent. The increase will have effect as from 6 October 2000.
The interest rate increase is a consequence of the increase by 0.25 per cent in the European Central Bank's minimum bid rate on the main refinancing operations.
The Nationalbank's lending rate and the rate of interest on certificates of deposit remain unchanged at 5.60 per cent.
For further information please contact Bjarne Skafte on telephone +45 33 63 60 21 or +45 23 40 32 87.
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