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Citing five sources familiar with the matter, Reuters today reported that ECB policymakers were leaning toward a stimulus package that will include  a rate cut and a pledge to keep rates low for longer.

“Many also support the QE, but opposition from some Northern States complicates the discussion,” sources said. “ECB rate cut is likely to be accompanied by tiering.”

Sources further explained that the ECB guidance will emphasize conditions needed for rate lift-off and  de-emphasize the date component.”

The EUR/USD pair seems to be pulling away from daily lows despite these dovish remarks and was last seen trading at 1.0950, losing 0.15% on the day.