ECB technocrats prepare to discuss 1.1-tln-euro QE program

Teams of European Central Bank (ECB) technocrats are gearing up for a governing council session to discuss its 1.1-trillion-euro (1.22 trillion U.S. dollars) quantitative easing program in Cyprus, officials said on Wednesday.

Central Bank of Cyprus (CBC) sources said the ECB governing council proper session on Thursday would be followed by a press conference by its president, Mario Draghi, on his plan to inject fresh money into the lagging economies of euro zone countries and ECB's interest policies.

The CBC sources said they expected Draghi to announce details, including the program start date for the purchase of sovereign debt by ECB in a bid to combat persisting deflation and high unemployment, now standing at about 11 percent in the euro zone area. Enditem