The World Economic Forum in Davos has many different topics on the agenda, but this year it coincides with a hotly-anticipated announcement by Mario Draghi, the president of the European Central Bank (ECB).
As part of the ECB's attempts to stimulate the deflation-hit euro zone, Draghi's press conference at 13:30 GMT, with a rate decision due at 12:45 GMT, is widely expected to be the moment the bank's Governing Council launches some form of government bond-buying.
And with some of the most powerful people on the planet all meeting in a conference center in Switzerland, quantitative easing (QE) is one of the hottest topics of the week.
Christine Lagarde, managing director of the International Monetary Fund (IMF), said on Thursday that expectations of a bond-buying program in Europe had already had an effect.
"To a point you can say that it has already worked," Lagarde said on a panel in Davos. "If you look at currency variation and where the euro is at the moment, you can't deny that there is expectations there that QE is about to come and is announced and will be significant."
European laggard economies were poised to benefit from the higher inflation expectations which would come with quantitative easing, Lagarde added. Official figures released earlier this month revealed that the euro zone slipped into deflation in December for the first time since 2009.
"If there is some re-anchoring of inflation in the euro area, those emerging European markets, which are pegged to the euro, will have the benefit of that," she said.
Speaking on the same panel as Lagarde, former U.S. Treasury Secretary Larry Summers added: "I am all for European QE."