Here comes Mario Draghi...
After the decision to bring in a bigger-than-expected QE bond-buying programme at the end of January, little was expected from today's announcement - but the press conference could be much more interesting.
At 1:30 p.m. GMT (8:30 a.m. ET) ECB President Mario Draghi steps up for a press conference, and we'll bring you live updates.
He's likely to face questions about Greece's latest crisis (this is his first Q&A session since the country's January election) and some more details about the ECB's QE programme, which actually begins this month.
Here's what's expected by Jennifer McKeown at Capital Economics. In short, investors will be looking for new lines on the duration and shape of ECB QE:
We already know that the Bank plans to buy about €1.1trn of government bonds, European institutions' debt and private sector assets between now and September 2016. But any indication that it will focus on long maturities or buy anything but the safest assets could increase the likely effectiveness and hence go down well with financial markets. The President may also reiterate that purchases could continue beyond September 2016 until the Bank sees "a sustained adjustment in the path of inflation". It is unclear exactly what this means, but we see a significant risk of deflation that seems to warrant more policy support than is currently planned.
Click here to refresh this page during the conference.