German finance minister calls for ECB rate cut

German Finance Minister Wolfgang Clement called on the European Central Bank to cut interest rates, saying it was "remarkably" more reserved than other central banks.

"I expect the ECB to take into account growth by lowering (interest) rates, in the context of monetary stability," he told the daily Passauer Neue Presse.

Clement drew a comparison with the Swedish Central Bank and the Bank of England which "have reacted in an appropriate way to the state of growth with rate cuts."

Clement said pay