10 minutes until the press conference
Draghi needs to promise at least 15 billion more euros of QE for at least another six months. That would meet the bare minimum of expectations.
In concrete terms, I can't see him exceeding that but he can jawbone.
The strongest move might be to make bond purchases open ended. Right now there is a Sept 2016 end-date for the QE program. He could simply switch that to open ended. That will create a mess down the road but it would be powerful now without necessarily committing to anything.
The other thing the ECB could do is hint at other measures.
If the will is weak but the jaw is strong, it could salvage the day for euro bears.
