Draghi plans showdown ‘early next year’

ECB policy remains unchanged as inflation forecasts are revised down

draghi-ecb
Mario Draghi, ECB

The European Central Bank (ECB) disappointed markets when it failed to unveil any new easing policies at its last rate-setting meeting of the year, with its governing council set to decide on further policy measures "early" in 2015.

Annual Harmonised Index of Consumer Prices (HICP) inflation fell to 0.3% in November, and ECB president Draghi alluded to the possibility of it dropping below zero as oil prices continue to slide.

The ECB has already started buying asset-backed securities and covered

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