ECB Posts Loss as It Pays Price for Its Own Rate Hikes

FRANKFURT (Reuters) -The European Central Bank made a loss last year as its own interest rate increases forced it to write down the value of some bonds and fork out billions of euros on balances created during a decade of money-printing, its annual accounts showed. While the 1.6 billion euro ($1.7 billion) loss was entirely covered by provisions, it raises questions about…