Danish governor reflects on central bank’s legacy at 200th anniversary
Fixed exchange rate adopted in 1982 was a turning point, Rohde says
Lars Rohde, the governor of the National Bank of Denmark, marked the 200th anniversary of the bank’s founding with a speech .
The central bank was created in the wake of the Danish defeat in the “gunboat war” of 1807 to 1814 against Britain. “Enormous government budget deficits had been financed by printing more money,” Rohde said.” Prices of staples – grain, butter and meat – rose by more than 300% in one year.”
“The Danish economy was in a state of chaos,” he told the audience. “It had to be
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