Higher CPI unlikely to change Danish loose monetary policy
CPI rises year on year by 1.5% in July, but krone’s exchange rate with euro remains stable
The consumer price index rose in Denmark year on year by 1.5% in July, its biggest increase since December 2012. But the National Bank of Denmark is unlikely to change its ultra-loose monetary stance soon because the krone’s exchange rate with the euro remains stable.
Danmarks Nationalbank does not have an inflation target. Instead, it aims to stabilise the krone’s exchange rate against the euro. The official peg is Dkr7.46038 ($1.18) to €1, with a margin of deviation of +/–2.25%. The exchange
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