Rate cut more likely than not in Denmark

Another week another set of data which add to the signs that Norway’s and Sweden’s economies ended Q4 on a decent note and outperformed even the best-performing major euro-zone economies in 2020. However, Q1 is likely to prove weaker than we previously thought across all the Nordics. While this will have little bearing on monetary policy in Denmark, the recent strength of the krone means we would not be surprised if the DNB cuts rates again before long.