The ECB meets to set policy today and analysts at TD Securities expect the ECB to navigate the meeting with minimal fanfare, with no change to policy and no clarification on QE and reinvestments.
“The macroeconomic backdrop has deteriorated slightly since their September meeting, however. This might leave a dovish tone to the press conference in particular. Changes to the ECB’s policy guidance are unlikely at this meeting.”
“We expect a confirmation of QE’s end to come at the December meeting, and further refinement on its rate guidance to come next year.”