Draghi set to unveil securities purchase plan

ECB president Mario Draghi will announce an asset-backed securities purchasing programme at Thursday’s monthly meeting instead of unveiling plans for fully fledged quantitative easing.

The latest inflation figures, which show the average rate across the eurozone has dropped to 0.3%, has prompted fears that the region could slip into a deflationary spiral.

Moreover, the unemployment rate is stuck at 11.5% and the bloc’s largest economy is facing huge headwinds following the escalation in tensions between Ukraine and Russia.