Danish krone rate has limited impact on current account – research
Household savings have a far larger effect, central bank says
Changes in the exchange rate of the Danish krone have a limited impact on the economy’s large current account surplus, says research published by the National Bank of Denmark on January 16.
Denmark recorded a current account surplus of 7.7% of GDP in 2018, one of the largest in the world.
According to the research, the main driver behind this development is the behaviour of Danish households. “Since 2010, the surpluses have been extraordinarily large. This is primarily because households have
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