At Danmarks Nationalbank, we have attempted to estimate the natural real interest rate – called r* – for Denmark. R* is defined as the real interest rate when the economy is growing in line with its potential. These estimates are associated with considerable uncertainty. But it is wellestablished that r* has been on a declining trend over the past couple of decades.
I am pleased to join you today. Though I am not here to discuss financial and economic literacy, I would be remiss if I did not commend the North Carolina Bankers Association for sponsoring Camp Challenge, your summer camping and financial literacy program.