European Central Bank President Mario Draghi
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European Central Bank's Mario Draghi news conference

European Central Bank (ECB) president Mario Draghi is expected to announce it will inject up to €1 trillion into the ailing eurozone economy.

The ECB could purchase government bonds worth up to €50bn (£38bn) per month until the end of 2016 - double the amount previously expected.

Up until now, the ECB has resisted using quantitative easing (QE) but it should reduce the cost of borrowing.