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Germany's Schaeuble: ECB policy appropriate given low inflation

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(Globalpost/GlobalPost)

FRANKFURT (Reuters) - German Finance Minister Wolfgang Schaeuble said on Tuesday the European Central Bank's recent policy action was appropriate given low euro zone inflation but added that the ECB should leave interest rates at record lows no longer than necessary.

"The ECB does an excellent job. Given low inflation, its expansionary monetary policy stance seems appropriate," Schaeuble told a finance conference in Frankfurt.

"But the ECB should stick no longer than necessary for price stability to their low interest rate policy," he added.

Schaeuble also said that monetary policy had played an important role over the last couple of years, but it could not solve the euro zone's underlying problems.

(Reporting by Eva Taylor and Paul Carrel)

http://www.globalpost.com/dispatch/news/thomson-reuters/140610/germanys-schaeuble-ecb-policy-appropriate-given-low-inflation