BERLIN: German Finance Minister Olaf Scholz said on Saturday that he expected interest rates to remain very low for “the next few years”, adding that companies should seize the opportunity of near-zero borrowing costs to boost private sector investment.

The European Central Bank has already signalled even more monetary stimulus for the eurozone economy, hoping to arrest a downward spiral that could lead to an economic recession.

Asked by a member of the public during a government open day about his view on the outlook for interest rates, Scholz said: “I also believe that the time of higher interest rates can come up every now and then, but that will not happen in the next few years because of central bank policies.”

Published in Dawn, August 18th, 2019