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The ECB is expected to leave its key interest rate unchanged at a record low of 0.5 percent, at its Council meeting.
Recent economic indicators suggest that economic recovery in Europe remains uncertain, inflation has declined, fueling speculation that the European Central Bank may take further action to stimulate economic growth.
But most economists say it is unlikely to happen on Thursday. Only a few people predicted a quarter-point rate cut.
European Central Bank President Mario Draghi market will be a press conference at his hint about whether banks will take more action, such as interest rates or cheaper long term bank loans deliberations.