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The November policy meeting takes place against a backdrop of meager growth prospects for the euro zone and mounting discomfort among Governing Council members over ECB President Mario Draghi's leadership style.
Reuters reported on Tuesday that national central bankers in the euro area plan to challenge Draghi over what they see as his secretive management style and erratic communication.
But little to no action is expected on further stimulus.
"Recent data has been weak and the pressure on the ECB to add more monetary stimulus has risen further. Yet, we think the ECB is in a 'wait and see' mode now and do not expect new policy measures or major new guidance to be provided," said UBS economist Reinhard Cluse.