According to an FT article, this morning, the ECB is now ready to definitely change its mind on monetary policy. Mario Draghi gave insights during its last press conference. He said then that the current monetary policy stance was a constraint for the economic activity (risks are on the downside) and a drag for the inflation rate to converge to the 2% target.
There will be two steps. The first would be a drop in interest rates (no precision on the possibility of a negative deposit facility rate). The second step would be a sort of Quantitative Easing. The ECB could buy a large spectrum of financial assets up to maturities of 10 years.
There is no calendar but it will conditioned by inflation rates data. We have a hierarchy and the precision that the ECB could buy rather long term assets to be consistent with the financing mode in the Euro Area.
The FT article is here http://on.ft.com/1gUGRVk