Bond-buying programme faces mission impossible

The ECB chief’s plan is awaited with interest by the markets, writes Alan Wheatley

If Mario Draghi manages on Thursday to satisfy financial markets while forging a political consensus on how to lower southern Europe’s sky-high bond yields, the European Central Bank chief should be offered the starring role in the next Mission Impossible movie.

Friday’s US job figures for August could be critical in determining how quickly the Federal Reserve acts on the promise of its chairman, Ben Bernanke, to ease monetary policy further if necessary to promote growth and a sustained labour market recovery.