02/03/2023 (Agence Europe) – The Bundesbank announced, on Wednesday 1 March, that it had recorded a loss in 2022, a situation that had not occurred since 1979. The cause: the forced normalisation of the ECB’s monetary policy, which began last summer and which obliges the Eurosystem’s central banks to remunerate commercial banks for the liquidity they deposit at their counters. The loss of €172 million posted is covered by provisions made in previous years. Bundesbank Governor Joachim Nagel has indicated that this trend could increase in the coming years. In his view, a “tight” monetary policy remains necessary to restore price stability. The ECB is expected to raise its key interest rates by 0.50% at its policy meeting on Thursday 16 March, with Mr Nagel saying that further increases may still be necessary. (MB)