Mario Draghi backed to expand stimulus

Mario Draghi’s promise that the ECB is willing to step up its stimulus if needed is resonating with economists, who see the eurozone recovery as too shallow to be sustained.

More than two thirds of respondents in a Bloomberg survey predict the ECB’s president will expand or extend the €1.14trn quantitative-easing programme, and almost all of those say he will do so within nine months.

While an increasing number of respondents see the economy improving for now, they are also fretting that the upturn will not last long.