This was the idea that the emerging economies would continue their recent strong growth despite the economic downturn in Europe and the United States. However, since the collapse of Lehman Brothers in mid-September, it has become clear that no part of the world will be immune to the current crisis.
The financial turmoil in the autumn demonstrated all too clearly that there is a considerable risk for both borrowers and issuers if interest rates are fixed only once a year. Danmarks Nationalbank is in favour of spreading issuance of adjustable-rate loans to other months than December.