February 22, 2024 BY Simon Mugo
ECB Incurred a Massive Loss in 2023 Due to High Interest Rates
Consequently, commercial banks now receive substantial interest earnings on the vast amounts of money the ECB generated during low inflation. The ECB, the central bank for the eurozone's 20 countries, stated, "The deficit reflects the Eurosystem's roles and the essential policy measures undertaken to uphold its principal objective of price stability. This situation does not…
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