ECB's stance on bond purchase positive move

After Mario Draghi raised hope of effectively tackling Europe's debt woes, markets in the region showed some strength. As the ECB hinted at buying bonds to bring down the borrowing costs of Spain and Italy, Sarah Hewin, Senior Economist at Standard Chartered told CNBC-TV18, there are a lot of grey areas and it is not known how much the ECB is prepared to buy in terms of supporting bonds.

However, the ECB's stance about restarting bond purchases is a positive move, believes Hewin. But, it may take longer to get a clear picture, she added.