ECB set to propose €1.1 trillion QE plan

Mario Draghi has proposed spending as much as €1.1trn as the European Central Bank seeks to revive inflation in the eurozone.

The ECB president and his executive board recommended asset purchases of €50bn a month until December 2016, according to two officials.

The 25-member Governing Council gathered in Frankfurt yesterday to discuss the plan and could make changes before a final decision today.