Denmark inflation to increase further

Over the next couple of months Danish inflation is expected to stay around the current level. Later this year, a continued upward trend is expected to be seen in the Danish inflation numbers as the base effects from the falling oil prices starts to diminish. 

"This, combined with stronger household demand, will push up inflation to around 1% y/y by the end of the year. In fact, even more than one full 25bps cut is now priced by the end of the year in both BAX and OIS markets", says Nordea Bank.