Here's a piece from the FT published this morning 26 Oct

Say the FT :

  • The most contentious debate at Thursday's meeting will be whether the ECB declares that the economy has recovered enough to draw QE to a close sometime in 2018.
  • Council hawks such as Bundesbank president Jens Weidmann and Klaas Knot, head of the Dutch central bank, think that the ECB should commit to stop buying bonds.
  • However, the bank has promised to keep on buying assets until the council "sees a sustained adjustment in the path of inflation consistent with its inflation aim". The bloc's inflation rate is currently 1.5 per cent, short of their target of a little under 2 per cent
  • Few expect that inflation will hit this target any time soon. Financial markets are keen that the ECB maintain flexibility when it comes to QE.
  • there are question marks over how committed the ECB can credibly be to purchasing more assets. Under the current design of the programme, the ECB may struggle to find enough bonds to buy should it need to step up its purchases from the levels it announces on Thursday.

Full piece here (maybe gated but free trial available)

Eamonn posted some other previews here

Not long now until we find out the fact rather than the conjecture

EURUSD currently finding support into 1.1800 as expected.