After today's meeting the European Central Bank's (ECB) Governing Council opted to maintain its main policy rate unchanged at 0.25 per cent.

That was as expected.

Investors will now be waiting for the ECB Governor, Mario Draghi's, press conference later this afternoon, at 13:30.

Ahead of the above economists at Capital Economics had this to say: "[...] we have learned from experience - not least November's 'surprise' rate cut -
not to put too much emphasis on the ECB's signalling (or lack thereof). If the news on the economy remains weak (notwithstanding the improvement in today's EC survey) and the euro remains strong, the case for more stimulus will be overwhelming.

"Another rate cut, and a negative deposit rate, is a clear possibility and we would not altogether rule out some form of asset purchases."

The latest Eurozone inflation numbers, out last Tuesday, showed the rate of increase in core consumer prices slipped to an 0.7% year-on-year pace in December, from an 0.9% clip in the month before.

-- More to follow --

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