European stocks are set to open slightly higher on Thursday, after soft economic data bolstered expectations of a rate cut from the ECB.
The ECB is scheduled to announce its latest interest rate decision at 12:45 p.m. London time, with Draghi's press conference set to follow at around 1:30 p.m.
Some market participants expect policymakers at the central bank to cut rates by 0.1% on Thursday, while traditional ECB watchersit is more likely the bank will promise to ease monetary policy over the coming months instead. The euro hovered close to two-year lows ahead of Thursday's opening bell, trading down around 0.1% at $1.1133.
A flurry of purchasing manager index readings in the U.S. and Europe came in weaker-than-anticipated on Wednesday, fueling hopes the ECB and Federal Reserve would ease monetary policy settings soon.
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