Friday August 28, 02:28 PM
PREVIEW-Danish forex reserves seen up 20 bln DKK in Aug
COPENHAGEN, Aug 28 (Reuters) - The Danish central bank's
foreign-exchange reserves were estimated to have risen to 356.4
billion crowns ($68.76 billion) in August from 336.4 billion in
July, a Reuters survey of five economists showed on Friday.
Growth in the forex reserves of the central bank, whose
monetary policy aims to keep the crown steady within a 2.25
percent band to the euro, can trigger interest rate changes.
On Aug. 27, the central bank trimmed its main policy rate by
10 basis points to 1.35 percent to ease upward pressure on the
crown and narrow the spread to euro-zone rates. Many economists
expect at least one more 10 bps cut this year.
The currency reserves figures exclude central government
foreign loan transactions.
Four economists saw retail sales dropping by 2.9 percent in
July year-on-year, according to the median estimate, compared to
a drop of 4.0 percent in June. Their estimates ranged from a
drop of 3.8 percent to a decline of 2.5 percent.
The central bank will release its foreign currency reserves
data on Wednesday, Sept. 2, at 1400 GMT, and the statistics
office will publish retail sales on Tuesday, Sept. 1 at 730 GMT.
FORECAST Danish foreign exchange reserves end-August (billions
of crowns)
Median 356.4
Mean 355.2
Minimum 350.0
Maximum 361.4
July 2009 (actual) 336.4
----------------------------------
Jyske Bank (Copenhagen: JYSK.CO - news) 361.4
Nordea Markets 358.4
Nykredit Markets 350.0
Spar Nord Bank (Copenhagen: SPNO.CO - news) 356.4
Sydbank (Copenhagen: SYDB.CO - news) 350.0
(Reporting by Martin Dahl)
($1=5.183 Danish Crown) Keywords: DENMARK RESERVES/POLL
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