'ECB rates historically low, support growth'

European Central Bank interest rates are still historically low, supporting economic growth, investment and employment in the euro area, Economic and Monetary Affairs Commissioner Joaquin Almunia said on Monday.
In a prepared speech for the Bavarian Business Forum meeting in Munich, Almunia also said that the Economic and Monetary Union helped achieve low and stable inflation in the 12 countries using the euro currency. "Nominal and real interest rates, both short and long-term, remain historically low," Almunia said in the speech.
"This is an important achievement given that low, long-term interest rates sustain economic growth and support investment and employment in many parts of the euro area," he said. "Price stability is being preserved to a high degree, despite the recent jump in prices of oil and other commodities," he said.