The European Central Bank is expected to announce a massive debt-buying plan to boost the economic recovery.

The stimulus programme has topped the agenda at the World Economic Forum in Davos

It is expected to see Frankfurt spend up to €50bn a month for two years, with the aim of stopping deflation.

Central banks in the UK, US and Japan have been buying government debt, to increase the amount of money available to banks and encourage lending.

That programme - called quantitative easing - has had some impact in those countries but it has long been avoided by the ECB.

However, the ECB's President Mario Draghi is set to change that today with his plans for a €50bn a month debt buying plan which will run until 2016, and could inject more than a trillion euro into the European economy.

It is not yet known if any Irish bonds will be part of the scheme. However analysts say if the programme successfully weakens the euro, increases inflation and boosts growth, it would help exports and give a welcome lift to Irish firms.

David Buik is Markets Commentator at Panmure Gordon Stockbrokers, and he spoke to Newstalk Breakfast about the ECB's plans: