German Chancellor and Finance Minister Olaf Scholz speaks on stage at the German Federal Ministry of Finance's "Open House Day" on August 17, 2019. DOWNLOAD / ANTAGRET HILS
BERLIN (Reuters) – German Finance Minister Olaf Scholz said he expects Saturday interest rates to remain at a "low level for the next few years," and companies should use the opportunity to utilize their zero loan costs to increase private investment.
The European Central Bank has set more monetary stimulus for the eurozone economy, hoping to maintain a low spiral that could lead to an economic downturn.
When Sholt asked the government about its interest rates, he said, "I also think that the high interest rates may come as close as possible, but this will not be the case over the next few years."
Scholz noted that currently the world's central banks are pursuing free monetary policies, including the ECB.
"I would like additional investments from the private sector," Scholz said, adding that companies and investors in the United States are ready to invest in new projects or business ideas.
"My wish is to achieve this cultural change here," Scholz said.
During a roundtable at the Ministry of Finance, Scholz said he was laughing and said that he was not allowed to give such advice if he had a good investment rate at zero interest rates.
But he adds: "Do not do that as I do. I put him in my savings. "
Michael Nienaber's Report; Editing by Hugh Loonon