Analysts: pre-ECB comments
BTMU: In the accompanying press conference we expect Mr. Draghi to acknowledge the recent signs of economic stabilization provided by the PMI surveys, although still leave the door open to further monetary easing ahead given the weak inflation and growth outlook dampening euro upside potential.
JP Morgan: Draghi will try to balance two messages. He will try to sound constructive about the economy and to also leave the door open to further policy easing.
BoA Merill Lynch: The strongest argument against a rate cut is the sell-off over the last month, so we recommend long positions going into the ECB meeting.
Standard Bank: We’re expecting no change in terms of ECB rates. If we do see a rate cut from the ECB, then the euro will go down, but if they publish concrete plans for some other stimulus measures, then the market will take that positively and it could go higher.
Inicredit: ECB will revise down GDP growth forecasts, while we expect next year's inflation forecast to remain unchanged.