Frankfurt: European Central Bank president Mario Draghi will paper over discord among colleagues at a press conference Thursday, analysts predict, with policymakers divided on their response to heftier economic growth unaccompanied by higher inflation.
Top central bankers know the end is in sight for massive support to the 19-nation eurozone.
But the ECB's governing council meeting in Frankfurt will bring another round in the battle over how quickly to wind down mass bond-buying and ultimately raise interest rates.
Meanwhile, financial markets are on alert for the slightest change in the bank's stance, after minutes from December's meeting showed governors plan to "revisit" policy early this year.
The ECB has bought almost 2.3 trillion euros ($2.8 trillion) of government and corporate bonds, offered cheap loans to banks and set interest rates at historic lows, aiming to stoke eurozone growth and boost inflation towards its target of just below 2.0 percent.
Like other central banks worldwide it has puzzled as higher economic growth -- estimated at 2.4 percent in 2017 -- and reduced unemployment have not brought faster price increases.
Euro area inflation fell to just 1.4 percent in December, well short of the ECB target, and is seen climbing only to 1.7 percent by 2020 in forecasts.
"While the strength of the economy suggests that extraordinary policy support is becoming unnecessary, the inflation outlook does not seem to warrant policy tightening," analyst Jennifer McKeown of Capital Economics summed up.
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