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There's no magic bullet, whatever Draghi decides

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There's much talk about what the ECB President, Mario Draghi, will or won't do to boost the Eurozone's flagging economy when he gives his monthly news conference on Thursday. There's speculation that interest rates could be cut and the deposit rate may move into negative territory. There may also be another round of "LTROs", which aim to boost lending to businesses. Saxo Bank's  Head of Macro Strategy, Mads Koefoed, says there could be an immediate knee-jerk reaction on the markets, but any measures will take months to bear fruit. 
Deflation is a major worry for the European Central Bank, of course, but here Koefoed says circumstances could well be on the ECB's side. He says one of the main drags on inflation has been low food and energy prices. These, though, are starting to pick up and he's also expecting to see the euro area economy performing more strongly in the second half of the year as economic conditions in the States continue to improve.