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German Finance Minister urges ECB to change policy soon

Reuters  |  BERLIN 

By Michael NienaberBERLIN (Reuters) - German Finance Minister Wolfgang Schaeuble said on Tuesday the European Central Bank needed to change its current monetary policy "in a timely manner", warning that very low interest rates had caused problems in some parts of the world.With Germany heading towards federal elections and savers complaining about low interest rates, officials from Europe's largest economy have stepped up pressure on the ECB to scale back its monetary stimulus of bond purchases and sub-zero rates.The ECB last week closed the door on more interest rate cuts, judging the euro ...

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First Published: Tue, June 13 2017. 17:39 IST