🧵Our annual accounts show that our balance sheet rose to €699 billion in 2022. The profit & loss account showed a result of zero, because our losses, mostly resulting from rising interest rates, were covered by provisions we’d set aside in the past.
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We expect to gradually return to profits over time. But profits and losses are just side effects of our efforts to fulfil our price stability mandate.
Read the press release https://www.ecb.europa.eu/press/pr/date/2023/html/ecb.pr230223~398b74f1dc.en.html
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