March 18, 2019 / 6:41 PM / 5 months ago

Merkel hopes euro zone inflation hits target so ECB can hike rates

FILE PHOTO: German Chancellor Angela Merkel leaves a news conference at the Chancellery in Berlin, Germany March 12, 2019. REUTERS/Fabrizio Bensch

BERLIN (Reuters) - German Chancellor Angela Merkel said on Monday she hoped inflation in the euro zone would soon reach the target set by the European Central Bank so the central bank can start raising interest rates.

“I believe or I hope - we have almost reached the 2 percent inflation rate - that the ECB can change its policy,” Merkel said during a town hall meeting in the northern city of Bremen.

Her comments were in response to complaints from a participant that savers and pension funds were suffering from the record-low interest rates set by the European Central Bank.

Reporting by Joseph Nasr; Editing by Robin Pomeroy

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