Thursday is the ECB rate decision and the main dish is LTROs, QE and negative rates but the side plate is the potential introduction of ECB minutes.

The ECB is worried about revealing deliberations publicly because it could politicize the process, or give the wrong impression but officials have warmed on the idea recently and Barclays believes an announcement of ‘light minutes’ will come tomorrow.

On the main decision, they expect 2014 inflation forecasts to be revised down but no changes to forward guidance and no new measures.