Here's what analysts are saying about today's big ECB meeting

It's a big day for the European Central Bank, with both an interest rate announcement and an update on the bank's monetary policy.

While no change is expected on interest rates, ECB head Mario Draghi's press conference at 1.30 p.m BST will be closely followed for any hints about what the bank is planning next.

Draghi's big problem is the Chinese market meltdown of recent months, which has put more deflationary pressure on the eurozone after speculators piled into the "safe haven" euro in the wake of the crisis.

This in turn has put pressure on European exports by making them more expensive and there are fears that this slowdown in trade could lead to lower prices in Europe.

We've rounded up what analysts, economists, and commentators are expecting to hear from Draghi this afternoon.