July 6, 2018 / 11:41 AM / 5 months ago

Germany expects ECB to gradually normalise euro zone rates - Scholz

German Vice Chancellor and Finance Minister Olaf Scholz gestures during a news conference to present the fiscal plan for 2019-2022 in Berlin, Germany, July 6 2018. REUTERS/Axel Schmidt

BERLIN (Reuters) - German Finance Minister Olaf Scholz said on Friday he expects the European Central Bank to eventually start gradually raising interest rates in the euro zone.

“We expect and hope for a gradual normalisation of interest rates,” Scholz said. “We cannot assume that interest rates paid by the state will remain as low as they are now.”

In a rare jab at U.S. President Donald Trump, Scholz said Germany was raising pension entitlements as a measure to avoid having “Trumps” coming to power in Germany.

Reporting by Tom Koerkemeier; Writing by Joseph Nasr; Editing by Thomas Escritt

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