Denmark policy interest rate

What this value means

DENMARK IS NOT IN THE EURO AREA AND THIS IS NOT THE ECB RATE. Denmark has a permanent opt-out from stage three of EMU (Protocol No 16 annexed to the Treaties, deriving from the 1992 Edinburgh Decision) and retains the krone and its own central bank, Danmarks Nationalbank. Do not serve the ECB deposit facility rate for DK. FOUR OFFICIAL RATES EXIST AND THEY ARE NOT ALL EQUAL — as of 12 June 2026: certificate-of-deposit rate (indskudsbevisrenten) 1.85%, current-account rate (folioindlånsrenten) 1.85%, LENDING RATE (udlånsrenten) 2.00%, discount rate (diskontoen) 1.85%. All four were verified individually against Danmarks Nationalbank's four official XML feeds (typeCodes IND / FOL / UDL / DIS) on 2026-07-22. The certificate-of-deposit rate is served here because it is the rate on the one-week deposit facility that anchors short-term Danish money market rates and is the direct analogue of the ECB deposit facility rate; note however that Danmarks Nationalbank's own 'monetary policy instruments' page does NOT designate any single rate as the leading rate — it presents the current-account, certificate-of-deposit and lending rates as one set of instruments — so 'the Danish policy rate' is a convention, not a statutory designation. Since the technical adjustment of 11 March 2021 (which removed current-account limits and set the current-account rate equal to the certificate-of-deposit rate) the folio and CD rates have moved together, so serving either gives the same number; the lending rate does not. IF YOU NEED THE LENDING RATE, IT IS 2.00% — that is the rate Danish law actually cross-references: renteloven (Bekendtgørelse af lov om renter og andre forhold ved forsinket betaling, LBK nr 459 af 13/05/2014) § 5, stk. 1 defines the statutory late-payment reference rate as Nationalbanken's official LENDING rate as fixed at 1 January and 1 July of the year, plus 8 percentage points. Applying § 5 to the verified 1 July 2026 lending rate of 2.00% gives a statutory morarente of 10.00% p.a. for the second half of 2026 (this is an application of the statute, not a separately published figure). FIXED EXCHANGE RATE POLICY, NOT INFLATION TARGETING: Denmark participates in ERM II with a central rate of 746.038 kroner per 100 euro and — uniquely — a narrow agreed fluctuation band of ±2.25% instead of the standard ±15%, giving intervention limits of 762.824 and 729.252 kroner per 100 euro. Rate decisions therefore follow the ECB mechanically rather than Danish inflation: the 11 June 2026 increase was made expressly 'som følge af, at Den Europæiske Centralbank, ECB, har sat sin toneangivende pengepolitiske rente op med 0,25 procentpoint', leaving the monetary policy spread unchanged. THAT SPREAD IS CURRENTLY MINUS 40 BASIS POINTS to the ECB deposit facility rate (1.85% vs 2.25%) and has held at −40bp across every move since at least December 2024; it is not fixed by rule and Danmarks Nationalbank can and historically does change it unilaterally to defend the krone, so do not compute the Danish rate from the ECB rate. Danmarks Nationalbank has no scheduled meeting calendar — it changes rates on the day the ECB decides (or at any time, unilaterally), and Danish changes take effect the NEXT DAY, whereas ECB changes take effect at the settlement of the following main refinancing operation. That is why the Danish effective date is 12 June 2026 while the ECB's for the same decision is 17 June 2026; a five-day window in June 2026 therefore exists in which the two rates moved on different dates. Access note: the Nationalbanken 'Official interest rates' HTML page renders its rate table client-side and yields NO numbers to a plain fetch; use the four XML feeds above, which are stable, official and machine-readable, or the individual press releases.

Earlier values

Get it programmatically

curl https://euroref.dev/v1/dk/policy-rate
# $0.001 per call — x402 on Base (USDC). No key, no signup.
# History:    curl https://euroref.dev/v1/dk/policy-rate/history?from=2020-01-01
# Provenance: curl https://euroref.dev/provenance/dk/policy-rate

Other Denmark series: VAT rate · minimum wage · public holidays · inflation rate (CPI) · corporate tax rate · income tax rates · official exchange rates