BERLIN, Aug 17 (Reuters) - German Finance Minister OlafScholz said on Saturday that he expected interest rates toremain very low for "the next few years", adding that companiesshould seize the opportunity of near-zero borrowing costs toboost private sector investment.
The European Central Bank has already signalled even moremonetary stimulus for the euro zone economy, hoping to arrest adownward spiral that could lead to an economic recession.
Asked by a member of the public during a government open dayabout his view on the outlook for interest rates, Scholz said:"I also believe that the time of higher interest rates can comeup every now and then, but that will not happen in the next fewyears because of central bank policies."
Scholz said that central banks around the world werecurrently pursuing a loose monetary policy, including the ECB.
"What I would wish for is more investments by the privatesector," Scholz said, pointing to a much higher willingness ofcompanies and investors in the United States to put fresh moneyinto new projects or business ideas.
"My wish is that we also achieve such a cultural changehere," Scholz said.
Asked by a younger visitor during a panel discussion in thefinance ministry if he had a good investment tip in times ofzero interest rates, Scholz laughed and said he was probably noteven allowed by law to give such advice.
But he added: "Just don't do it my way. I simply put it inmy savings account."(Reporting by Michael Nienaber; Editing by Hugh Lawson)