Why quantitative easing is 'like Santa Claus' - in 60 secs

The European Central Bank (ECB) is expected to announce it will inject up to €1 trillion into the eurozone economy.

The ECB could purchase government bonds worth up to €50bn (£38bn) per month until the end of 2016. Creating new money to buy government debt, or quantitative easing (QE), should reduce the cost of borrowing.

Chief Market Strategist for the UK and Europe at J.P. Morgan Asset Management, Stephanie Flanders, told BBC Radio 4's Today programme that quantitative easing has to be believed to be seen.