BRUSSELS (AP) — Germany’s finance minister on Monday issued a stark warning that global central banks’ efforts to inject more liquidity into the financial system are feeding asset bubbles — which could eventually burst and cause the next crisis.

Wolfgang Schaeuble also rejected a recommendation by the International Monetary Fund that the European Central Bank should resort to large-scale bond purchases — of the kind the Federal Reserve is making — to help growth and protect the 18-nation eurozone from deflation.