September 12, 2019 / 8:15 AM / 2 months ago

German savers need not reckon with negative interest rates - Scholz

BERLIN, Sept 12 (Reuters) - German Finance Minister Olaf Scholz on Thursday sought to calm savers worried that the ever-lengthening period of low interest rates in the euro zone could see them paying negative interest rates on their deposits.

Hours before the European Central Bank’s monetary policy committee takes its rate-setting decision, Scholz told the Passauer Neue Presse newspaper that savers need not reckon with negative interest rates “across the board.”

“We are monitoring the situation and are considering our options to act,” he said.

Reporting by Thomas Escritt Editing by Paul Carrel

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