Denmark - Monetary Policy Rate
Denmark: Monetary Policy Rate
| Mnemonic | IRMP.IDNK | |
|---|---|---|
| Unit | % p.a., NSA | |
| Adjustments | Not Seasonally Adjusted | |
| Business Daily | ||
| Data | 23 Mar 2023 | 2.75 |
| 22 Mar 2023 | 2.75 | |
Series Information
| Source | Danmarks Nationalbank |
| Release | Nationalbank official interest rates |
| Frequency | Business Daily |
| Start Date | 4/1/1992 |
| End Date | 3/23/2023 |
Denmark: Markets
| Reference | Last | Previous | Units | Frequency | |
|---|---|---|---|---|---|
| Monetary Policy Rate | 23 Mar 2023 | 2.75 | 2.75 | % p.a., NSA | Business Daily |
| Stock Market Index | 23 Mar 2023 | 1,947 | 1,933 | Index, NSA | Daily |
| Lending Rate | Feb 2023 | 2.1 | 1.75 | % p.a., NSA | Monthly |
| Average Long-term Government Bond | Oct 2020 | -0.45 | -0.4 | % p.a., NSA | Monthly |
Release Information
For Denmark, these statistics are used as benchmark for business related to exchange rates and interest-based assets and/or liabilities. Statistics contain the official interest and exchange rates fixed by Danmarks Nationalbank or observed in the money market.
- Discount rate
- A signal rate indicating the overall level of the monetary-policy interest rates.
- Current-account rate
- On the current accounts of the monetary-policy counterparties at Danmarks Nationalbank.
- Lending rate
- For monetary-policy loans against securities as collateral. Monetary-policy loans usually have a maturity of 7 days.
- Rate of interest on certificates of deposit
- Certificates of deposit (CDs) usually have a maturity of 7 days.
Danmarks Nationalbank conducts monetary policy by setting the monetary-policy interest rates. In practice, this is done via the lending and deposit facilities made available by Danmarks Nationalbank to banks and mortgage banks.
Danmarks Nationalbank's monetary-policy counterparties iuncludes banks and mortgage-credit institutes which have access to the monetary-policy instruments, i.e. they can place liquidity with Danmarks Nationalbank as overnight deposits (current-account deposits) and participate in Danmarks Nationalbank's weekly market operations. In the weekly market operations, counterparties can obtain 7-day loans against collateral in securities, or deposit liquidity for 7 days by purchasing certificates of deposit.
The net positions of the monetary-policy counterparties are their portfolios of certificates of deposit and current-account deposits, less their loans from Danmarks Nationalbank. Fluctuations in government payments and Danmarks Nationalbank's purchase and sale of foreign exchange mainly affect the net positions. In the weekly market operations, the monetary-policy counterparties typically structure their net positions so that the total current-account deposit covers the expected liquidity requirement for the next week. Danmarks Nationalbank may or may not announce in advance that it will buy back or sell certificates of deposit outside the fixed market operations when major liquidity fluctuations are expected.
There are size limits on the monetary-policy counterparties' current-account deposits. The goal of these limits is to prevent the build-up of large current-account deposits that may be used for speculation in interest-rate and/or exchange-rate changes. Current-account deposits in excess of the individual limits will be converted into certificates of deposit if the total limit for the counterparties is exceeded.
Only final figures are published.
