The European Central Bank's plan to revive the euro zone economy put markets on track but hammered the shared currency. IG Markets Analyst, Alastair Mccaig says quantitative easing is certainly boosting market confidence.

SHOWS: LONDON, ENGLAND, UK (JANUARY 23, 2015) (REUTERS - ACCESS ALL)

1. SLATE, READING (English): 'IS IT ALL A LITTLE TOO LATE FROM DRAGHI?'

2. IG, MARKETS ANALYST, ALASTAIR MCCAIG, SAYING:

'Well I think the actions we saw the ECB take last year were always going to take a little bit of time to fully work there way into the markets. The asset backed securities purchasing scheme that targeted LTRO's and maybe it's only going to be in this first quarter that we'll start to feel the benefits of this. Markets had certainly been factoring in some sort of quantitative easing policy being introduced by the ECB. And as keen as they were to see it, I think the fact that we are seeing multi-year highs in a number of the equity indicies maybe reflects a more buoyant mindset that's prevalent in Europe at the moment.'

3. SLATE, READING (English): 'IS GERMANY STILL LIKELY TO CAUSE PROBLEMS FOR THE ECB'S PLANS?'

4. IG, MARKETS ANALYST, ALASTAIR MCCAIG, SAYING:

'Undoubtedly the fact that there wasn't a complete agreement on this ECB policy is no real surprises at the fact that it's most likely to have be German, German politicians, who were the most reluctant to embark upon this is no real surprise. I guess it'll be potentially a bit of a thorn in the side of this policy going forwards but I think this will develop as the years tick on. It's worth remembering when we look across at the U.S. at the fact that the Fed spent the best of six years on quantitative easing policy and they ended up having a number of different phases and that seems likely to be the case in Europe as well.'

5. SLATE, READING (English): 'WHEN DO YOU THINK WE'LL START SEEING SOME REAL EFFECTS FROM QE?'

6. IG, MARKETS ANALYST, ALASTAIR MCCAIG, SAYING:

'Well I think we're certainly seeing a confidence effects already being factored in to the market. As I say multi-year highs on a number of European equity indices, the Dax setting record highs as well. It's certainly boosting confidence and it has been factored into the markets. The fact that the actually doesn't start until March is maybe not the worst of things giving the markets a little more time to fully absorb it as I say speculation on trading floors is already rife about what phase two of this might well mean and could we see the monthly 60 billion being spent maybe increasing to say 80 billion. I think that'll be a topic of conversation that will escalate as we see the picture around Europe develop over the course of this year. Still quite a few question marks to be answered, Greek elections out with.'