ECB meeting is the highlight for today - BBH

Research Team at BBH, suggests that the ECB meeting is the highlight for today and staff forecasts will be updated as well. 

Key Quotes

“Over the last few months, the TLTRO II and corporate bond purchase programs have been implemented, but it is too early to evaluate the results.  There does not seem to be a consensus to do more at this juncture.  Perhaps the most that can be reasonably expected is that the ECB extends the asset purchase program beyond of March 2017.  That is probably the path of least resistance.  If not today, then when?  Given the ECB's modus operandi, the next window of opportunity would be with updated staff forecasts in December.

The euro is trading firm ahead of the decision.  Any disappointment in the ECB is likely to see a test of the August 18 high near $1.1365.  As always, there is a risk that Draghi pushes back against euro gains at the press conference.  The economy remains weak, inflation is basically non-existent, and a firmer euro is the last thing needed now.”