A survey of market optimism Germany rose more than expected in January thanks to cheaper oil and a weaker Euro.

The investment analysts surveyed in Europe’s largest economy looked past market turmoil over the Swiss National Bank’s decision to let the franc rise sharply.

The higher reading comes as the European Central Bank on Tuesday reported stronger demand by companies for loans, another positive sign in Europe’s slack economy.

The positive data came out ahead of Thursday’s European Central Bank meeting where the bank is expected to announce more stimulus through purchases of government bonds.

This should positively affect the Euro, which you can expect to climb today.

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Mario Draghi is likely to announce a 550 billion-euro ($635 billion) bond-purchase program this week and won’t skimp too much on the details, economists say.

The European Central Bank president will make his biggest push yet to steer the euro area away from deflation by announcing quantitative easing on January 22^nd. The median estimate of the size of the package tops the 500 billion euros in models presented to officials this month.

Draghi’s goal at a press conference after the Governing Council gathers will be to convince investors he has a strategy big and bold enough to reinvigorate the moribund economy. Speculation over his plans has already sent the euro to an 11-year low, with the fund flows probably contributing to the Swiss National Bank’s shock decision to end a cap on the franc.

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Global markets were thrown into turmoil on Thursday as a shock move by Switzerland to abandon its three-year cap on the franc sent the currency soaring and Europe's shares and bond yields tumbling.

The franc jumped by almost 30 percent in a chaotic few minutes that saw it break past parity against the euro to trade as high as 0.8052 francs per euro as it cast off the 1.20 per euro cap it has had in place since late 2011

The move shattered what up until then had been a rebound in risk appetite following an overnight recovery in commodity prices.

"This is extremely violent and totally unexpected, the central bank didn't prepare the market for it," said Alexandre Baradez, chief market analyst at IG in France.

"It's sparking panic across all asset classes. It suddenly revives the risk of central bank policy mistakes, right when central bank action is what's keeping equity markets going."

The view was that the Swiss central bank felt it could no longer hold out against the tide of money that is coming its way as the ECB in Frankfurt prepares to start quantitative easing and investors pour out of riskier markets like Russia.

Oil has also resumed its slide despite a bounce by copper and other metals putting gold and the yen back in favor.

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Britain’s inflation rate fell to the lowest in almost 15 years in December, which will force Governor Mark Carney to write the Bank of England’s first open letter explaining why prices are rising too slowly.

Consumer-price growth weakened to 0.5 percent from 1 percent in November, the Office for National Statistics said in London today. That’s the lowest since May 2000 and below the 0.7 percent median forecast of 37 economists surveyed by Bloomberg News. A separate report showed factory-gate prices recorded their biggest annual drop in five years.

Plunging oil costs and supermarket price wars are driving the sharp slowdown in UK inflation. With price growth below the Bank of England’s 2 percent target and a weak euro-area economy damping export demand, that’s helping Carney and his majority on the Monetary Policy Committee justify keeping the key interest rate at a record-low 0.5 percent.

The consumer-price data showed that food prices plunged 1.9 percent in December from a year earlier amid price cuts by supermarket chains including Tesco Plc and Wal Mart Stores Inc.- owned Asda to fend off competition from discounters. Reflecting the drop in crude oil, the price of gasoline has fallen about 18 percent from its 2012 peak, according to the statistics office.

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