Banque de France posts record profit

The Banque de France's profit surged to a record high of €2.32 billion ($3.69 billion) last year.

The central bank said this was mainly due to a sharp increase in net interest income and cost cutting.

The central bank's balance sheet was strengthened by the appreciation of the euro against the dollar caused by the Federal Reserve's decision to slash rates in the second half of last year, by the growth of banknotes in circulation in the euro area and the sale of €2 billion-worth of gold.

The im

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