Lars Rohde: 200th anniversary of the National Bank of Denmark

Speech by Mr Lars Rohde, Governor of the National Bank of Denmark, at the 200th anniversary of the National Bank of Denmark, Copenhagen, 4 July 2018.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Central bank speech  | 
26 July 2018

Your Majesty.

Dear guests.

Danmarks Nationalbank was established 200 years ago. Just across the canal from here.

Danmarks Nationalbank’s main building was located in what is now Slotsholmsgade.

It had simply been built across the middle of the street. You could not avoid it.

Seen from Danmarks Nationalbank’s perspective, its position made good sense.

On one side was the “Red Building", which even back then housed the Ministry of Finance. On the other side, the bank was joined to Christian IV’s old Stock Exchange.

The newly established central bank was a large enterprise. It had around 50 employees. But it also had an important task.

The Danish economy was in a state of chaos. It had to be sorted out.

Inflation was soaring when the war ended. It had to be reduced.

There was widespread lack of trust. Trust had to be restored.