Speeches and statements

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12-01-2022

Governor Signe Krogstrup's presentation at the Danish Stockbrokers' Association’s New Year’s levee

Danmarks Nationalbank

Governor Signe Krogstrup's presentation "Danish economy - Where do we stand and what are the prospects?" held on 12 January 2022 at the Danish Stockbrokers' Association’s New Year’s levee. (The presentation is in Danish only).

11-01-2022

Governor Lars Rohde's presentation at Insurance and Pension Denmark's member meeting

Danmarks Nationalbank

Governor Lars Rohde gave a presentation at the Insurance and Pension Denmark’s member meeting on 11 January. The presentation focused on the outlook for the Danish and global economy, as well as the long-term risks facing the pension sector. Among other things, governor Lars Rohde shared his thoughts on the dilemmas that low real interest rates pose to pension customers. (The presentation is in Danish only).

16-12-2021

Governor Signe Krogstrup's introduction to the presentation of Denmark's first green government bonds

Danmarks Nationalbank

Governor Signe Krogstrup gave welcoming remarks at the first investor meeting regarding Danmarks Nationalbank's forthcoming issuance of green government bonds. She explained the background for the issuance. Green issuances contribute to the net-zero transition through the establishment of an efficient and transparent capital market, where green investments can find the right green projects.

06-12-2021

Governor Lars Rohde's speech at the Annual Meeting of Finance Denmark

Danmarks Nationalbank

On 6 December, Governor Lars Rohde gave a speech at the Annual Meeting of Finance Denmark. The speech focused on the housing market, climate change, money laundering and capital adequacy requirements. Lars Rohde repeated Danmarks Nationalbank's recommendations for a more resilient housing market.

01-12-2021

Governor Per Callesen’s panel presentation at the Danish Economic Society’s member meeting

Danmarks Nationalbank

On 1 December, Governor Per Callesen participated in a panel debate on the housing market. The presentation argues for why and how the structures in the housing market should be strengthened, specifically through a requirement that highly indebted homeowners repay their debt and through a reduction of the tax deduction for interest payments. (The presentation is in Danish only)

23-11-2021

Governor Lars Rohde's speech at the Distinguished Speakers Seminar

Danmarks Nationalbank

At the conference convened by the European Economics and Financial Centre on 23 November 2021, Governor Lars Rohde shared his thoughts on why the Danish economy has fared relatively well through the pandemic so far. The Danish economy is now operating above its potential, and is expected to find a balanced trajectory over the coming years, as current pressures are believed to be partly transitory.

23-11-2021

Assistant Governor Thomas Harr's panel speech at Danske Bank's Summit 2021

Danmarks Nationalbank

On 23 November, Assistant Governor Thomas Harr participated in a panel discussion on the covid-19 recovery, fiscal and monetary policy and the outlook for inflation. In the presentation, it is argued that there are large differences between the US and the euro area, while Denmark is a special case. Inflation expectations and wage developments will be the key determinants of inflation in the coming years – both in Denmark and abroad.

22-11-2021

Governor Lars Rohde's speech at the PwC Banking seminar

Danmarks Nationalbank

On 22 November, Governor Lars Rohde gave a presentation at the PwC banking seminar (PricewaterhouseCoopers) 2021. The presentation was about the current state of the Danish economy and the Danish banking sector. The Governor also pointed out signs of risk build-up in the financial system and the need to improve the resilience of the housing market. Moreover, the Governor addressed the European Commission's proposal for revised capital requirements, which offers several improvements.

03-11-2021

Statement by Danmarks Nationalbank in connection with COP26

Danmarks Nationalbank

Climate change and the transition to a green economy can challenge Danmarks Nationalbank's objectives of price and financial stability. Danmarks Nationalbank publishes a statement on its climate-related work, in connection with COP26. Danmarks Nationalbank increased the work upon joining the Network for Greening the Financial System in 2019.

12-10-2021

Danmarks Nationalbank's comments on the Danish Economic Council's discussion paper, autumn 2021

Danmarks Nationalbank

07-10-2021

Assistant Governor Thomas Harr's panel speech at Danish Finance Institute Annual Conference 2021

Danmarks Nationalbank

On 7 October, Assistant Governor Thomas Harr participated in a panel discussion on where interest rates are heading and the implications. The presentation argues that interest rates can be expected to remain low going forward. Moreover, the presentation discusses how negative interest rates have affected households, firms and banks so far.

06-10-2021

Governor Lars Rohde's speech about the housing market situation at the Association of Danish Mortgage Banks' theme day

Danmarks Nationalbank

At the theme day of the Association of Danish Mortgage Banks, Lars Rohde addressed the housing market situation. He reiterated Danmarks Nationalbank's recommendations on the Danish housing market. Housing market resilience can and should be strengthened. One way of doing so is by restricting loans with deferred amortisation to the most resilient homeowners.

27-09-2021

Governor Signe Krogstrup's panel speech at BSP-RBWC International Research Conference

Danmarks Nationalbank

Governor Signe Krogstrup participated in a panel discussion on central banking and dealing with the enduring impact of covid-19 on 27 September 2021. The presentation argues that interest rates may stay low for an extended period, and that macro prudential policy therefore may be relevant.

06-09-2021

Governor Per Callesen’s presentation at Finance Denmark’s Director’s Conference 2021

Danmarks Nationalbank

On 6 September, Governor Per Callesen held a presentation at Finance Denmark’s Director Conference 2021. The presentation describes the current situation for the Danish economy. The presentation also includes the decision of the Minister for Industry, Business and Financial Affairs to raise the countercyclical buffer and describes negative interest rates and the phase-out of government liquidity support. (The presentation is in Danish only).

03-09-2021

Background seminar on new digital retail payments

Danmarks Nationalbank

Danmarks Nationalbank held a seminar on new digital retail payments September 3, 2021, where Head of Payment Systems, Nathalie Pauline Tuxen, inter alia elaborated on cryptoassets, stablecoins and CBDC (Cental Bank Digital Currencies) and their mutual similarities and differences. (The presentation is in Danish only).

01-09-2021

Assistant Governor Thomas Harr's panel speech at the conference “The Long-run Outlook for Interest Rates”

Danmarks Nationalbank

Assistant Governor Thomas Harr participated in a panel discussion on 1 September 2021 on how long-term interest rates influence economic policy discussions in Denmark. The presentation argues that Danish long-term interest rates are likely to remain low for some time, but the fixed exchange rate regime constrains how expansive a fiscal policy pursued over time can be.

01-09-2021

Governor Lars Rohde's speech on ultra low interest rates at the conference "Long run outlook for interest rates"

Danmarks Nationalbank

At the conference on 1 September 2021, Governor Lars Rohde addressed the very low interest rates that characterise a large number of countries, including Denmark. He argued that they are driven by a number of global factors. They have implications for households, companies as well as financial institutions.

30-06-2021

Danmarks Nationalbank’s comments on media reports about SolarWinds

Danmarks Nationalbank

The allegations about Danmarks Nationalbank was hacked and a back door to IT systems was open for 7 months are not correct.

11-06-2021

Governor Signe Krogstrup's presentation for Finansforeningen on Fixed-exchange rates regimes and Quantitative Easing

Danmarks Nationalbank

Governor Signe Krogstrup held a presentation for Finansforeningen (CFA Society Denmark) on 11 June 2021 on the subject: ‘Monetary policy is not easy: Fixed-exchange rate regimes and Quantitative Easing’. The presentation provides the background for central banks use of unconventional monetary policy tools, including negative policy rates and quantitative easing. Following, it is discussed how the Danish fixed-exchange rate regimes is affected by the widespread use of unconventional monetary policy by central banks. Finally, possible side effects of unconventional monetary policy are examined. (The presentation is in Danish only).

01-06-2021

Danmarks Nationalbank's comments on The Economic Council's discussion paper, Spring 2021

Danmarks Nationalbank

Danmarks Nationalbank's comments on The Economic Council's discussion paper, Spring 2021.

31-05-2021

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

Danmarks Nationalbank

The first part of the speech provides a brief overview of the current economic situation. The second part of the speech focuses on climate change and the role of the financial sector.

18-05-2021

Governor Lars Rohde's presentation at Djøf's Negotiator conference on status and prospects for the Danish economy

Danmarks Nationalbank

The pandemic has resulted in a two-speed economy: For example, activity has been low in the experience industry due to fears of infection and restrictions, while it has been high in, for example, the construction industry and in the housing market, where prices have increased significantly. The two-speed situation is also evident in the labour market, where employment has especially been affected in the service industries. Looking ahead, Danmarks Nationalbank expects that economic activity will quickly recover in line with the population being vaccinated and the restrictions being eased. (The presentation is in Danish only.)

12-05-2021

Governor Per Callesen's speech at the Europa Think Tank's webinar on digital euro

Danmarks Nationalbank

Governor Per Callesen's speech on 23 April 2021 at the Europa Think Tank's webinar on the digital euro.

21-04-2021

Governor Signe Krogstrup's presentation at ESM seminar about climate change and debt sustainability

Danmarks Nationalbank

Governor Signe Krogstrup's presentation "Climate change and debt sustainability" at ESM seminar, 21 April 2021. The presentation addresses how climate change and the transition to a low-carbon economy can affect countries' debt levels and fiscal sustainability. A point made is that increased uncertainty about the future could result in budget deficits and higher interest rates.