* . * . . .
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Cookie Privacy Policy
  • DMCA
  • California Consumer Privacy Act (CCPA)
Friday, September 26, 2025
Love Europe
  • Politics
  • Business
  • Culture
  • Opinion
  • Lifestyle
  • Sports
  • Travel
No Result
View All Result
  • Politics
  • Business
  • Culture
  • Opinion
  • Lifestyle
  • Sports
  • Travel
No Result
View All Result
Love Europe
No Result
View All Result
Home Denmark

Danish Central Bank Expected to Cut Rate to Mirror ECB’s Move – BNN Bloomberg

October 17, 2024
in Denmark
Share on FacebookShare on Twitter
ADVERTISEMENT

(Bloomberg) — Denmark’s central bank is likely to follow its European counterpart with a quarter-point interest-rate cut later on Thursday, economists said.

All five economists polled by Bloomberg News expect Nationalbanken to lower its current account rate to 2.85% from 3.1% at 5 p.m. in Copenhagen, in what would be the Nordic nation’s third reduction of borrowing costs this year.

The Danish central bank, whose mandate is to uphold the krone’s peg to the euro, typically matches the ECB’s rate decisions, though it may diverge if the krone becomes too weak or strong. 

Despite recent fluctuations, the krone is trading close to its central parity rate, and Nationalbanken has not intervened in the currency market in prior months, economists said. This makes it likely that the central bank will maintain its current spread of 40 basis points below the euro-area’s key deposit rate. 

The success of Novo Nordisk A/S and other Danish drugmakers — fueling the currency’s strength via booming exports — is widely seen as the key factor forcing Denmark to keep interest rates lower than in the euro area. At the same time, Novo has also had a temporary opposite effect last year when its large dividend payout helped weaken the krone to a three-year low.

“The krone has experienced greater fluctuations than usual against the euro in the past few weeks, but this should not worry the Danish central bank, and we therefore expect it to mirror the ECB,” Jens Naervig Pedersen, a senior analyst at Danske Bank A/S, said.

Aside from Danske’s Naervig Pedersen, the following economists participated in the poll: Anton Thorell Caroe of Arbejdernes Landsbank A/S, Jan Storup Nielsen of Nordea Bank Abp, Palle Sorensen of Nykredit A/S and Soren Kristensen of Sydbank A/S.

©2024 Bloomberg L.P.

Source link : http://www.bing.com/news/apiclick.aspx?ref=FexRss&aid=&tid=67116fab84fc4afb81908016e8edc3ef&url=https%3A%2F%2Fwww.bnnbloomberg.ca%2Finvesting%2F2024%2F10%2F17%2Fdanish-central-bank-expected-to-cut-rate-to-mirror-ecbs-move%2F&c=14253362954757507185&mkt=de-de

Author :

Publish date : 2024-10-17 07:01:00

Copyright for syndicated content belongs to the linked Source.

Tags: DenmarkEurope
ADVERTISEMENT
Previous Post

Britain Joins Europe Long-range Missile Programme

Next Post

Cyprus freezes crypto applications ahead of EU-wide MiCA transition – Cointelegraph

Related Posts

Denmark

US and Denmark to carry first high-level talks since Donald Trump’s win – Monetary Instances – EUROP INFO

Denmark

A roundup of the information on Wednesday – The Native Denmark – EUROP INFO

Denmark

White Home accuses Denmark of ‘mistreating’ Greenland residents forward of Vance ‘Arctic safety’ go to – New York Put up – EUROP INFO

ADVERTISEMENT

Highlights

Lithuanian Prime Minister Paluckas Steps Down Amid Widespread Protests

Hunter-gatherers journeyed by sea to Malta – Nature

Russia steps up disinformation efforts to sway Moldova’s parliamentary vote – The Record from Recorded Future News

Monaco Yacht Show 2025: Superyacht MAR Crowned Largest Attending Yacht as BREAKTHROUGH Withdraws

Discover Montenegro: The Ultimate Beginner’s Guide to This Stunning Destination

Categories

Archives

October 2024
MTWTFSS
 123456
78910111213
14151617181920
21222324252627
28293031 
    Nov »
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Cookie Privacy Policy
  • DMCA
  • California Consumer Privacy Act (CCPA)
No Result
View All Result
  • Home
  • Politics
  • News
  • Business
  • Culture
  • Sports
  • Lifestyle
  • Travel
  • Opinion

© 2024 Love-Europe

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Go to mobile version