REUTERS/Francois Lenoir
European Central Bank (ECB) President Mario Draghi waves as he arrives at an eurozone finance ministers meeting in Brussels February 17, 2014.
Economists are looking for the ECB's benchmark interest rate to be lowered to 0.15% or 0.1%, down from current 0.25%.
This will be followed by a press conference with ECB head Mario Draghi.
Markets will also be watching for any announcements on an asset purchase program, or quantitative easing.
Claus Vistesen at Pantheon Macroeconomics doesn't expect the ECB to fire any sort of bazooka today though.