Markets await potential ECB stimulus

Markets are hoping for further economic stimulus as the European Central Bank and the Bank of England embark on policy meetings later today.

There has been mounting speculation the ECB will act to bring down Spain's cost of borrowing with a bailout going further than just the banking sector after president Mario Draghi (pictured) said he will do "whatever it takes" to support the euro. In July it cut rates from 1% to 0.75% and cut deposit rates to zero and it is believed he may re-start bond buying from the banks, which last took place in January. In the UK, investors are speculating whether the Monetary Policy Committee will further increase quantitative easing after it was revealed the econonmy contracted 0.7% in Q2, muc...