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Most recent Analyses
Analyses focus on current issues of particular relevance to Danmarks Nationalbank’s objectives. The analyses may also contain Danmarks Nationalbank’s recommendations. They include our projections for the Danish economy and our assessment of financial stability. Analyses are targeted at people with a broad interest in economic and financial matters.
Real interest rates in the context of inflation and higher government debt
Since the 1980s, interest rates have gradually fallen across countries due to structural conditions. Although interest rates have risen sharply since 2020, there are indications that the conditions that contributed to the decline in interest rates are still present. However, new trends such as higher government debt, climate change, the green transition and changing trade patterns may potentially affect interest rates in the longer term.