The European Central Bank Governing Council meet this week

  • Announcement due at 1145GMT (Wednesday June 3)
  • There is no change in policy expected
  • And its unlikely we'll even get much in the way of any significant new information on monetary policy

BUT ... there is this:

  • At this meeting we get publication of updated ECB staff economic forecasts
  • Likely that the GDP growth forecast will remain unchanged (previously 1.5% this year)
  • Expect, though, for the inflation forecast to be revised up (current, i.e. most recent, forecast is for zero)

Note, though, inflation is expected to be seen in food and oil prices ... not necessarily translating much into the core rate.

  • This should mean Draghi reaffirms the intention of the ECB to continue on with its asset purchase program to at least September 2016