In the nation that has had negative interest rates longer than anywhere else, economists are going through a bit of a rough patch.
Since Denmark introduced subzero rates in mid-2012, citizens have struggled to get their heads around a world in which savers are punished, borrowers are rewarded and the basic laws of risk-return feel like ancient mythology.
“People just don’t understand negative rates,” Handelsbanken chief economist Jes Roerholt Asmussen said.
Trying to explain the incomprehensible — and make predictions that people take seriously — is proving increasingly difficult, Asmussen said.
That is one reason why his profession is now regarded with increasing skepticism, he added.
It is the latest sign that, since the global financial crisis of 2008, experts are struggling to reassert their