ECB not expected to change rates at announcement today

The European Central Bank is expected to make no changes to interest rates when it meets later today.

The ECB is set to warn that inflation could stay low for longer, with an already downbeat forecast because of plunging oil prices and weak Chinese growth.

However, Goodbody's Laura DeVoy believes there are hopeful signs on the horizon.

She said: "If anything, economic indicators are stronger. The ECB is focused on inflation. Headline level is .2, at a core level it's .9. Their target is to get to 2%.

"However at this point in time, they may wait and see how economic growth is moving."