The following are the expectations for today's ECB January policy decision and its potential impact on the EUR as provided by the economists and FX strategists at 20 major banks. Goldman Sachs: We expect the ECB to announce on Thursday a sovereign debt purchasing program sized between EUR500bn and EUR1trn with purchases to be mutualized. We think full mutualisation will be more effective in impacting EUR/USD. That is because the Euro downtrend has in our minds always been about regime change at the ECB, the switch to a more activist central bank that began with President Draghi’s pre-announcement of the deposit rate ... (full story)