By Abdulselam Durdak
Frankfurt letter, week beginning Jan. 16

- Markets focus on European Central Bank meeting

The European Central Bank (ECB) Governing Council will meet in Frankfurt on Thursday.

ECB President Mario Draghi, known as "Super Mario" in the markets, is not expected to announce a new decision at the meetıng to cut interest rates after the December decision to extend Quantitative Easing at a slower pace.

A press conference will be held following the meeting. However, the outcome of the meeting is not expected to bring up any surprises. It is likely that the outlook and dynamics of inflation will be discussed along with the Eurozone's economic outlook and a review of political risks for this year.

However at the press conference, Draghi could face questions over Germany's criticism of the low interest rate policy and over the hacking of his email account during his tenure as governor of the Bank of Italy.

It is not yet clear the extent of the information that the hackers got hold of, but the possibility of a leak of sensitive information ranging from monetary policy to emergency measures for Greece will be of concern.

16 Jan,2017