Economics

ECB not set to keep rates low for years

The European Central Bank is unlikely to keep its interest rates low for years, the head of the German Bundesbank said on Monday, but warned that the eurozone crisis is far from over.

26.08.2013

(AFP) The European Central Bank is unlikely to keep its interest rates low for years, the head of the German Bundesbank said on Monday, but warned that the eurozone crisis is far from over.

"My assumption is not that interest rates will remain low for years, not least because the economic impulse of ultra-easy monetary policy will fade with time and the risks for financial stability will increase," Jens Weidmann said.