A slew of comments by European Central Bank (ECB) policymakers this week have further fueled expectations that a full-blown European quantitative easing (QE) program is a question of "when?" rather than "if?"
Recent figures confirmed that the euro zone has slipped into deflation, spurring a number of analysts and economists to argue that government bond-buying to stimulate the economy could be announced at the ECB's next meeting on January 22.
As such, market watchers have been speculating over what form such stimulus could take, with a source telling CNBC on Monday that QE could be based on the paid-in capital contributions made from national central banks to the ECB.
Meanwhile on Friday, Reuters reported that the bank was considering a hybrid approach to government bond purchases, which would combine the ECB buying debt and separate purchases by national central banks.