The European Central Bank (ECB) is expected to remain in "wait and see" mode despite the continuing economic troubles in the Eurozone. Experts believe that recent signs of stabilization in the economic data allow the ECB to stand pat despite the current recessionary environment in the region.

Thus, the consensus expects the monetary authority to leave interest rates unchanged at their current record low of 0.75%. In fact, a Bloomberg survey shows that only five out of 55 economists believe the ECB will cut the rates.

The ECB is expected to announce its decision today, at 12:45 London time. Investors will also be eagerly awaiting the press conference on monetary policy by the bank's chief, Mario Draghi, at 13:30 so as to better gauge the ECB's current stance and speculate on future policy actions.

JM

Related share prices