Europe

Danmarks Nationalbank

Too few recent speeches for a current tone.

Speeches: 112
First speech: Dec 6, 2000
Latest speech: Nov 7, 2025
Tone vs coming rate moves: Not tested; too few speeches or no published rate

Does the tone run ahead of the rate?

Speech tone over the previous three months, and the policy rate at the end of each month, on the same timeline. Hover over either chart to read the same month in both.

Speech tone

Policy rate

Latest speeches

Each speech's tone is the average over its sentences about policy, prices, rates or the economy. Open a speech to read it in full.

Date	Speech	Tone
Nov 7, 2025	Signe Krogstrup: Revisiting global imbalances in the context of the "AI hype" Signe Krogstrup	+0.02
Jun 19, 2025	Signe Krogstrup: Climate risks and financial stability - staying the course amid uncertainty Signe Krogstrup	−0.10
Dec 2, 2024	Christian Kettel Thomsen: Risks related to geoeconomic fragmentation, cyber, and the green transition Christian Kettel Thomsen	−0.02
Oct 1, 2024	Ulrik Nødgaard: TIPS cross-currency Ulrik Nødgaard	+0.02
Feb 19, 2024	Signe Krogstrup: Money and payments - the five C's Signe Krogstrup	−0.02
Dec 4, 2023	Christian Kettel Thomsen: Danish economy, financial risks and cash Christian Kettel Thomsen	+0.10
May 11, 2023	Signe Krogstrup: Financing the energy transition Signe Krogstrup	−0.02
Mar 9, 2023	Signe Krogstrup: New types of digital money Signe Krogstrup	+0.07
Dec 5, 2022	Lars Rohde: Liquidity, economic dampening and a look back Lars Rohde	+0.18
Oct 31, 2022	Lars Rohde: The history of the Danish fixed exchange rate regime Lars Rohde	−0.09
Oct 31, 2022	Signe Krogstrup: Speech - National Bank of Denmark's conference marking the 40th anniversary of the Danish fixed exchange rate regime Signe Krogstrup	+0.09
Apr 26, 2022	Signe Krogstrup: Perspectives on central bank mandates, instruments and policy trade-offs Signe Krogstrup	+0.00
Dec 16, 2021	Signe Krogstrup: Denmark's first green government bonds Signe Krogstrup	+0.08
Dec 6, 2021	Lars Rohde: The housing market, climate change, money laundering and capital adequacy requirements Lars Rohde	+0.07
Sep 1, 2021	Lars Rohde: Ultra low interest rates from the perspective of a central banker Lars Rohde	−0.32
Apr 23, 2021	Per Callesen: Should the EU launch a digital euro? Per Callesen	−0.04
May 12, 2020	Lars Rohde: Macroprudential policy in Denmark Lars Rohde	−0.09
Dec 3, 2019	Lars Rohde: Challenges for the pension section in a low interest environment Lars Rohde	−0.14
Dec 2, 2019	Lars Rohde: The impact of climate change on financial stability and the need for a European banking union Lars Rohde	−0.08
Oct 16, 2019	Lars Rohde: Technological change and digitalisation Lars Rohde	−0.22
Oct 8, 2019	Per Callesen: The role of financing and regulation amid broader policies to mitigate climate change Per Callesen	+0.08
Oct 3, 2019	Lars Rohde: From national regulation to an international level playing field Lars Rohde	−0.25
Sep 19, 2019	Lars Rohde: Low for long - causes and consequences Lars Rohde	−0.25
Sep 10, 2019	Lars Rohde: Trust and transparency in the financial system Lars Rohde	+0.04
Dec 3, 2018	Lars Rohde: The importance of cross-border cooperation for Denmark's financial stability Lars Rohde	−0.64
Nov 19, 2018	Lars Rohde: Macroprudential policy - merits, limitations, current challenges and the way forward Lars Rohde	−0.16
Sep 3, 2018	Per Callesen: The European banking union in perspective - is there risk sharing and joint liability? Per Callesen	−0.23
Jul 4, 2018	Lars Rohde: 200th anniversary of the National Bank of Denmark Lars Rohde	+0.10
Jun 7, 2018	Lars Rohde: Europe - an economic powerhouse in the future? Lars Rohde	+0.13
Mar 1, 2018	Lars Rohde: Denmark's experiences with low interest rates Lars Rohde	−0.00
Dec 4, 2017	Lars Rohde: Financial sector developments, digital currency and risky ties in Denmark Lars Rohde	−0.12
Nov 15, 2017	Lars Rohde: Danish monetary policy and communication Lars Rohde	−0.09
Nov 3, 2017	Lars Rohde: The future of money and banking Lars Rohde	−0.17
Oct 31, 2017	Lars Rohde: A life close to the centre Lars Rohde	−0.15
Oct 30, 2017	Per Callesen: Can banking be sustainable in the future? A perspective from Danmarks Nationalbank Per Callesen	−0.03
Oct 2, 2017	Per Callesen: Growth rates, reforms and risk of overheating Per Callesen	+0.08
Jul 3, 2017	Lars Rohde: Danmarks Nationalbank's monetary policy - possibilities and limitations Lars Rohde	−0.15
Apr 20, 2017	Lars Rohde: Long-term view of the Danish economy Lars Rohde	+0.03
Dec 5, 2016	Lars Rohde: Increased digitisation - impact on Denmark's financial sector Lars Rohde	–
Oct 5, 2016	Lars Rohde: Challenges for the housing market and mortgage sector in Denmark Lars Rohde	−0.06
Apr 7, 2016	Lars Rohde: The importance of credit institutions' capitalisation, financial regulation development Lars Rohde	−0.05
Dec 7, 2015	Lars Rohde: Denmark's fixed exchange rate policy Lars Rohde	−0.20
Oct 1, 2015	Lars Rohde: Denmark's economy, housing market, krone, and crisis management of mortgage banks Lars Rohde	+0.21
Mar 25, 2015	Lars Rohde: Monetary policy, foreign exchange intervention and GDP growth seen rising Lars Rohde	−0.06
Dec 1, 2014	Lars Rohde: The international and domestic factors impacting Denmark's economy Lars Rohde	−0.17
Oct 2, 2014	Lars Rohde: The Danish economy against the background of global economic developments Lars Rohde	−0.08
Sep 8, 2014	Hugo Frey Jensen: Creating relations in a digital new (banking) world Hugo Frey Jensen	−0.03
May 8, 2014	Lars Rohde: Overview of the Danish economy against the background of global developments Lars Rohde	+0.06
Apr 3, 2014	Lars Rohde: Developments in the world economy, the Danish economy and in its mortgage credit system Lars Rohde	+0.20
Mar 18, 2014	Per Callesen: A central banker's perspective on European regulatory reform Per Callesen	+0.01
Dec 2, 2013	Lars Rohde: Reflections on Denmark's sixth bank rescue package Lars Rohde	+0.07
Sep 26, 2013	Lars Rohde: Recent developments and outlook for the Danish economy Lars Rohde	+0.03
Sep 26, 2013	Lars Rohde: The most important recent economic developments in Denmark Lars Rohde	−0.21
May 24, 2013	Per Callesen: Current economic and financial issues affecting Denmark Per Callesen	−0.41
Apr 9, 2013	Lars Rohde: Developments in the world economy, the Danish economy and in its mortgage credit system Lars Rohde	−0.26
Feb 26, 2013	Lars Rohde: The European crisis and the development of the European Union Lars Rohde	−0.29
Jan 29, 2013	Nils Bernstein: Central banking at a crossroads - Europe and beyond Nils Bernstein	−0.33
Dec 3, 2012	Nils Bernstein: Challenges ahead for the Danish economy Nils Bernstein	−0.27
Sep 26, 2012	Nils Bernstein: Developments in the world economy, the Danish economy and in its mortgage credit system Nils Bernstein	−0.16
Mar 29, 2012	Nils Bernstein: Developments in the Danish economy and mortgage-credit system Nils Bernstein	−0.00

Next: Across all central banksHow tone lines up with rate moves at every bank tested, and whether it predicts them.