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ECB to remain square for now

After the recent remarks by Mario Draghi has fueled the market's anticipations on further action, it should become easier to get a consensus that the central bank will give at least something to the market.
 Currently, any sufficient support is not seen in the Governing Council, particularly the hawks, but the moderate council members might support the drastic changes in the current ECB policy.

"We therefore believe that the ECB will opt for a combination of a deposit rate cut and an expansion of quantitative easing, cutting the deposit rate by 15bps and scaling up the pace of asset purchases by EUR 30bn per month, ...", says Rabo bank in a research note.

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