HERE COMES THE ECB DECISION...

REUTERS/Kai PfaffenbachA man uses his mobile phone to take a picture of the euro sculpture outside the head quarters of the European Central Bank (ECB) in Frankfurt, November 5, 2013. The ECB council will meet on Thursday and will decide whether they change the interest rates or not.

Heads up: we are minutes away from the release of the European Central Bank's November policy decision, due out at 7:45 AM ET. ECB president Mario Draghi holds a press conference and Q&A at 8:30.

The consensus forecast on Wall Street is that the ECB will maintain its benchmark refinancing rate at 0.50%, where it's been since May.

Yet with a persistently appreciating euro and the release of data last week revealing that eurozone consumer price inflation plunged to 0.7% year over year in October from 1.1% in September, a few notable firms (BofA Merrill Lynch, UBS, and RBS) predict the ECB will cut the refi rate to 0.25% Thursday, while a few others (Morgan Stanley and Société Générale, to name two) think it will do so at its December meeting.

We will have the full release LIVE at 7:45, followed by full coverage of the presser at 8:30. Click here to refresh for the latest updates »