The Globe and Mail reports in its Tuesday, Nov. 15, edition that the Bank of Canada will report its first financial loss in its 87-year history in the coming weeks. The Globe's Mark Rendell writes that in recent months, the bank's aggressive push to increase interest rates has created a mismatch on its balance sheet. It is now paying a higher interest rate on its liabilities -- mostly deposits by Bay Street banks held at the central bank -- than it is earning on its assets. That is generating net interest losses, which will begin showing up in the bank's third quarter financial statements, expected later this month. The BOC expects losses of between $5-billion and $6-billion over the next few years. It expects to "return to positive net interest income sometime in 2024 or 2025." The Globe says the BOC is not alone. Central banks around the world have begun reporting large losses in recent months as they wind down pandemic-era bond buying programs. The losses are an unintended consequence of the BOC's quantitative easing (QE) program. QE caused the BOC's balance sheet to balloon during the pandemic. Use of the QE has been heavily criticized by some Conservative politicians, who blame it for today's high inflation.