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Frankfurt - Keen to keep a low profile over the Greek crisis, the European Central Bank (ECB) will focus on improved growth prospects on Thursday and unveil some but not all the details of its €1trn-plus bond buying plan.
The ECB, meeting in Cyprus, will keep rates on hold and probably lift growth forecasts to reflect a string of positive data surprises, But it could cut inflation projections as it incorporates the full effect of a dramatic oil price fall, backing its case to buy €60bn worth of bonds a month from March to spur inflation.
The bank has a long way to go to convince markets its plans will be effective. Only half of the economists polled by Reuters think bond buying will help inflation rise towards the target of close to but below two percent and half think the purchases will be extended beyond September 2016.
