In other words, the Reserve Bank’s holdings of 91-day Treasury bills that forms a part of budget deficit is also a subset of the monetised deficit. However, it may be noted that while the constituents of the budget deficit are measured at face value, those of the net Reserve Bank credit to the central Government are measured at book value.
The  BIS Review 40/2009  1  market is driven by negative expectations that overshadow the positive trend in the private finances of most Danes. Expectations that cash prices will fall further can be self-fulfilling if people are hesitant to buy, and this pattern that can be difficult to break. Especially if unemployment is rising.