Denmark had been through a period of slow growth and large imbalances as regards government budgets, the current account and the labour market, which was affected by high unemployment throughout the 1970s in the wake of the oil crises. In 1982, inflation reached 12 per cent and interest rates 22 per cent.
Conclusion: mechanism of monetary policy I have explained several issues related to the forthcoming comprehensive assessment. The ones I have mentioned here are just some of the issues to be analyzed toward the next MPM. The Policy Board members will have an in-depth discussion at the next MPM on these issues, as well as other relevant topics.