ECB Likely to Announce More Stimulus on Thursday and That’s Just the Beginning

Brace for the European Central Bank to pump more liquidity into the eurozone on Thursday and again in 2016. ‘We will probably see more stimulus towards the end of next year,’ said Craig Erlam, senior market analyst at Oanda, based in London. ‘We’ve got such high unemployment levels, tight fiscal policies from eurozone countries and I don’t think we’re quite there yet in terms of what is going to be needed in order to drive a strong [eurozone] recovery.’ The ECB’s massive $1.2 trillion stimulus program was launched in March, similar to the one used by the Federal Reserve in the U.S. ‘I think the ECB may over-deliver with 80 billion euros of monthly asset purchases, rather than 70 or 75 billion,’ he said. The ECB currently pumps 60 billion euros worth of securities into the 19-nation eurozone bloc economy, which has been struggling with weak consumer prices. TheStreet’s Scott Gamm reports from New York.