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ECB Preview: Easing Mix in Sight as Draghi Aims to Over-Deliver

High market expectations.
European Central Bank President Mario Draghi Announces Interest Rate Decision
Photographer: Jasper Juinen/Bloomberg

The ECB is expected to deliver a package of easing measures at a March 10 meeting, or risk disappointing markets that are already pricing aggressive action.

Expected policy measures include a deposit-rate cut by at least 10 basis points, an increase of 10 billion to 20 billion euros in monthly asset purchases and an extension of the program, economists and strategists say in client notes and interviews. The ECB is also likely to announce downward revisions to CPI and GDP forecasts, which would probably lead to broader consensus among governing council members for more easing.