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7/8, 12:09 PM (Source: TeleTrader)
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CDU head: ECB should increase rates sooner than planned

The European Central Bank (ECB) needs to increase interest rates a bit sooner than it is planning since the phase of low interest rates is causing trouble for savers, Christian Democratic Union (CDU) head Annegret Kramp-Karrenbauer told Frankfurter Allgemeine Zeitung in an interview published on Monday.

She said that monetary policy needs to be "sustainable" and "sensible" but added that low interest rates are causing capital to leave Europe.

Following its June meeting the ECB said it expects interest rates to remain at current levels at least until mid-2020.

Breaking the News / VP