European stocks slide after ECB dashes hopes of major QE expansion

Central bank's modest moves to revive eurozone economy, including minor reduction in deposit rate paid on reserves, sends markets tumbling

Eurozone markets have plunged after the European Central Bank president dashed investors' hopes of aggressive new measures to boost the flagging economy.

Mario Draghi had sent strong signals in recent weeks that he and his colleagues on the ECB's governing council were prepared to "do what we must to raise inflation as quickly as possible", and news that inflation remained at just 0.1% in November had intensified expectations of decisive action.

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