The City roundup video: Government blame EU payments for higher than forecast borrowing

Video: Oscar Williams-Grut provides a run-down of the day's major news from the City

The government say a one-off payment to the EU meant that borrowing was higher than expected for December (Getty)

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Meanwhile on the continent, the European Central Bank is expected to today announce plans to pump cash into Europe’s faltering economies in a bid to boost growth. As much as €50 billion a month could be spent on buying up debt as it hopes to get Governments and companies spending.