FILE - In this Aug. 7, 2014 file photo Head of the European Central Bank, ECB, Mario Draghi attends a news conference in Frankfurt, Germany. European Central Bank President Mario Draghi says there’s room for governments to dial back austerity, within limits. The ECB is looking at more stimulus, such as pumping new money into the economy by purchasing bonds. But such central bank stimulus can’t do it all alone. “It would be helpful for the overall stance of policy if fiscal policy could play a greater role alongside monetary policy, and I believe there is scope for this,” he said in a speech last week at a U.S. Federal Reserve conference at Jackson Hole, Wyoming. (AP Photo/dpa, Boris Roessler, File) (The Associated Press)
FRANKFURT, Germany – Financial markets are eagerly awaiting more word from the European Central Bank about possible stimulus measures to save the economic recovery.
Many analysts don't expect the ECB to act at Thursday's meeting of its governing council. They say a more likely outcome is further detail at the post-meeting news conference on preparations for additional steps such as large-scale bond purchases.
Others do not rule out a small cut in the benchmark interest rate from 0.15 percent.
Expectations have risen since ECB President Mario Draghi warned on Aug. 22 ago that inflation expectations are falling. Low inflation of only 0.3 percent annually is a sign of the economic weakness that is still plaguing the 18 countries that use the euro.
The eurozone saw no growth in the second quarter.
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