The ECB’s second round of long-term loans came in at the low end of analysts’ estimates, bolstering the case for the institution to start large-scale quantitative easing.

The ECB saw far less demand than expected yesterday for its new four-year loans to banks, raising doubts about a stimulus package it hopes will stave off deflation and revive the eurozone economy.

Will Mario Draghi’s unprecedented measures manage to revitalise the eurozone economy? asks Kyran Fitzgerald