The European Central Bank is not expected to announce any major policy moves at its regular monthly meeting today, as it examines the effects of its recent cut in interest rates on the eurozone.

At last month's meeting, the ECB's governing council cut the bank's key rates by a 0.25% to an all-time low of 0.50% - no further cut is expected today.

The rate cuts have been criticised by some, who argue that the more pressing issue for the euro area's economy is the low level of lending to Europe's small and medium-sized enterprises.

Simon Barry - economist with Ulster Bank - told Newstalk's Breakfast that the ECB views SME lending as an issue for individual governments, as well as the European Investment Bank and the EU Commission: