eFXdata reports that analysts at Barclays Research discuss their expectations for this week's ECB policy meeting on Thursday.

"We expect the Governing Council to make no changes to its monetary policy stance and the President to reiterate the determination to maintain favourable financing conditions, but not offer more details on the framework. We forecast QE expansion will be announced before year-end."

"To conclude, we do not anticipate that the meeting will bring any change to the monetary policy stance, nor more clarity on the policy framework."