What changed in the Danmarks Nationalbank statement — 17 April 2025

Danmarks Nationalbank cut policy at 2.00%. The two Danmarks Nationalbank statements are identical except for the effective date; no policy stance change. Next decision will likely continue to mechanically follow ECB moves to maintain the krone peg.

Decision

Decision: cut
Lending rate: 2.00%

What changed

The two Danmarks Nationalbank statements are identical except for the effective date; no policy stance change. Next decision will likely continue to mechanically follow ECB moves to maintain the krone peg.

Inflation — Little changed. No inflation assessment passages in either document; stance unchanged.
Labour Market — Little changed. No labour market assessment passages in either document; stance unchanged.
Rate Path — Little changed. Both documents contain identical dovish rate cut and neutral ECB-following language; no directional shift.
Balance Sheet — Little changed. No balance sheet or risk framing passages in either document; stance unchanged.

Previous wording

Danmarks Nationalbank lowers the current-account rate, the rate of interest on certificates of deposit, the lending rate and the discount rate by 0.25 percentage point with effect from 7 March 2025.
rate path: Direct rate cut confirms easing bias.

The interest rate reduction is a consequence of the reduction by the European Central Bank of its main monetary policy rate, the deposit facility rate, by 0.25 percentage point.
rate path: Explains the pass-through from ECB, no independent action.

Thereby, the monetary policy spread vis-á-vis the euro area will remain unchanged.
rate path: Key signal: the currency peg commitment is unchanged, limiting future divergence.

Current wording

Danmarks Nationalbank lowers the current-account rate, the rate of interest on certificates of deposit, the lending rate and the discount rate by 0.25 percentage point with effect from 22 April 2025.
rate path: Direct policy rate cut, dovish action.

The interest rate reduction is a consequence of the reduction by the European Central Bank of its main monetary policy rate, the deposit facility rate, by 0.25 percentage point. Thereby, the monetary policy spread vis-á-vis the euro area will remain unchanged.
rate path: Confirms ECB-following strategy to keep spread unchanged; no independent signal.

Official statement

Press releases are short texts about important news from Danmarks Nationalbank. Press releases are primarily aimed at journalists or those interested in instant and direct news updates, for example on interest rate changes.

Interest rate reduction

Danmarks Nationalbank lowers the current-account rate, the rate of interest on certificates of deposit, the lending rate and the discount rate by 0.25 percentage point with effect from 22 April 2025.

17 April 2025

Danmarks Nationalbank lowers the current-account rate, the rate of interest on certificates of deposit, the lending rate and the discount rate by 0.25 percentage point with effect from 22 April 2025.

The interest rate reduction is a consequence of the reduction by the European Central Bank of its main monetary policy rate, the deposit facility rate, by 0.25 percentage point. Thereby, the monetary policy spread vis-á-vis the euro area will remain unchanged.

Effective from the above date, Danmarks Nationalbank's interest rates are:

Current-account rate: 1.85 per cent p.a.

Certificates of deposit rate: 1.85 per cent p.a.

Lending rate: 2.00 per cent p.a.

Discount rate: 1.85 per cent p.a.

Enquiries can be directed to press advisor Peter Levring on +45 2620 1809.

Read the official source

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Background reading

Cadence's comparison is generated from the official documents. Read the methodology.