ECB's Bini Smaghi says rates at historical lows

European Central Bank board member Lorenzo Bini Smaghi was reported in La Repubblica newspaper as saying that the ECB's interest rates are at historical lows.

In the interview Bini Smaghi said that in recent times, rates have never been so low, and you have to go back to Germany in the 19th century to find such low rates.

'The interest rates of the eurozone today are at historical minimums. Corrected for inflation they are practically close to zero or negative,' he said in the interview.

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