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ECB's Draghi to Favor a Balancing Act as Policy Seen on Hold

Oil price weakness has lowered the bar for further ECB easing but don't expect any additional policy moves just yet
European Central Bank President Mario Draghi Announces Interest Rate Decision
Photographer: Jasper Juinen/Bloomberg

Europe Central Bank president Mario Draghi will likely say the bank is ready to act but will be mindful of pre-committing to more action at Thursday’s press conference after December’s policy measures fell short of heightened market expectations.

The bank will ease further in 2016, according to 61 percent of economists surveyed by Bloomberg; of those expecting more stimulus, 45 percent expect additional measures in March and 34 percent say the bank will wait until June.