FXStreet (Mumbai) - German Finance Minister Wolfgang Schaeuble, while speaking to Spiegel, said he would prefer to have higher interest rates. He said the current interest rate level (at record lows) is no longer fulfilling its economic function at present. Politicians should not contribute to over reaction to the problems in China, oil price, he added. His comments come a day after the ECB President Draghi opened the doors for more easing in March. For more information, read our latest forex news.