According to analysts at the Royal Bank of Scotland (RBA), ECB’s outgoing President Mario Draghi failed to pull any rabbits out of the hat at his last meeting.

• “He will be forever remembered for the phrase “whatever it takes” in the summer of 2012 when fears of a break-up of the Euro area were in the ascendancy. The tone of his last press conference was downbeat, highlighting latest weak business surveys.
• He was diplomatic about recent opposition from some ECB Council members to lowering official rates further into negative territory and the resumption of QE, starting 1st November. Over to you Mrs Lagarde!”