Bundesbank reports first loss in over 40 years

Germany’s central bank has reported losses for the first time since 1979 due to rising interest rates reducing the value of its bond holdings. The Deutsche Bundesbank lost €172 million ($184 million) – after the European Central Bank itself reported a €1.6 billion loss last week – and is not expected to distribute profits to the government for a third year running. The Bundesbank is suffering losses on the €1.07 trillion mountain of debt it bought as part of the ECB’s bond-buying programmes