European Central Bank’s result nearly EUR 8 billion in loss

European The losses of the Central Bank (ECB) increased to EUR 7.94 billion last year, according to the financial statements published on Thursday. In 2023, the loss was EUR 7.89 billion.

Thus, the loss was EUR 58 million more than the previous year.

The losses are due to the exceptionally high interest rate paid by the ECB’s commercial banks for deposits.

According to Central Bank, a loss of nearly EUR 8 billion has no impact on its stability or monetary policy.

Control interest Significant raising was one of the reasons why rapid inflation, which burdened the euro area economy, slowed down.

In June last year, the Central Bank started interest rates. The financial markets believe they will continue at least until the coming summer.

All in all, the ECB has cut its control interest five times so far. The interest rates have been 0.25 percentage points at a time.

As interest rates fall, the central bank losses are reduced. The result can, at best, turn to a profit, depending on how much the central bank decreases.