The European Central Bank (ECB) closed 2023 with a loss for the first time in 19 years. This is stated in Press release regulator
The ECB’s loss amounted to 1.3 billion Euros. This figure was given taking into account the amount of 6.6 billion Euros in which all reserves were released to cover financial risks. If this were not the case, its value would be much greater.
According to the regulator’s prediction, it is not possible to prevent losses in the near future. The ECB expects to return to stable profits within a few years.
Before that, analysts at the European Central Bank warned About the possible consequences of import substitution in the EU. Any attempt to reduce dependence on sourcing goods from abroad and further encourage domestic production in Europe could lead to higher prices and lower quality.
ECB in January was recorded A record annual rate of 4.5%, despite forecasts of policy easing.
ECB staff had previously spoken negatively appreciated The work of the bank’s president, Christine Lagarde.