Investors expect Mario Draghi to extend the eurozone’s QE programme and hit banks with deeper negative interest rates * Introduction: It’s ECB Day * Decision at 12.45pm GMT, press conference at 1.30pm GMT * Here are Draghi’s options * What the experts predict * Shares are up today, but the euro is down 10.15am GMT TODAY’S ECB MEETING IS THE FIRST ACT IN A DRAMATIC FORTNIGHT FOR THE GLOBAL ECONOMY. While Mario Draghi will probably ease monetary policy today, his US counterpart -- Fed chair Janet Yellen -- may well announce an interest rate rise on December 16th. Most important 2 weeks in monetary policy for years. #ECB set to up its #QE game today, and by mid-December Fed will have raised rates. Some analysts believe the sharply different strategies being pursued by the ECB and the Fed threaten a period of global financial turbulence. David Marsh and Ben Robinson of the Official Monetary and Financial Institutions Forum thinktank said: “The great monetary polarisation between the US and Europe is under way. After a period of close alignment since the collapse of Lehman Brothers in September 2008, US and European monetary policies are about to diverge in dramatic fashion. Related: Turbulence predicted as ECB eases monetary policy and Fed tightens 9.58am GMT On General Strike, GSEE union says government broke commitments, policies causing "poverty and misery" #Greece pic.twitter.com/hY0dBOJEyX Continue reading...
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