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You can see our press conference live (in Danish), when the Board of Governors presents points and forecasts from Danmarks Nationalbank.

To your left, you can also find more information on how to get access to our press conference for journalists and photographers, more information on the live-streaming of our press conference, press photos and videos from Danmarks Nationalbank etc.

For press enquiries please contact press adviser Ole Mikkelsen, tel. +45 3363 6027.

Firms’ sensitivities to business cycles differ by size and age. The differences are large: “young and small firms” are more cyclical than large firms, whereas “old and small” firms are closer to acyclical. A heterogeneous-firm model with heterogeneous returns to scale can replicate these findings, and implies changes in the potency of different stabilisation policies.

In April 2023, the average interest rate difference was 1.63 percentage points on new loans with fixed and variable interest rates. The figure applies to the homeowners' new loans paid out in April and is calculated before contributions. This difference was 3.40 percentage points six months ago.

We develop a model with partially unfunded debt to propose a fiscal theory of persistent inflation. After the pandemic, unfunded fiscal shocks sustain the recovery, but also cause a persistent increase in inflation. The model predicts the inflationary effects of the ARPA stimulus out of sample and using real-time data.

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Working Paper: Firm Cyclicality and Financial Frictions

Smaller difference between fixed and variable rates

Working Paper: A Fiscal Theory of Persistent Inflation

Governor Signe Krogstrup's speech at the annual meeting of the Association of Local Banks, Savings Banks and Cooperative Banks in Denmark

Nowcast models

Governor Christian Kettel Thomsen's speech at the Board Leadership Society anniversary conference