###(1/2) Analysts expected ECB to remain...>

ECB VIEW: ###(1/2) Analysts expected ECB to remain on hold Thursday, eye on

updated staff forecasts:

* Nomura: Doubt ECB will unveil any further policy changes with focus on updated

ECB staff forecasts. Expect modest upward revisions to 2017 & 2018 GDP and to

headline CPI for 2018. See APP stopping in Sep and 10bp deposit hike in Dec

* UBS: Focus on new staff forecasts covering 2020. We expect ECB to revise its

growth forecasts upwards, but keep its inflation forecasts broadly unchanged.

Think rate hiked only after end of QE, most likely as of July 2019.

* Barclays: Do not expect any change in monetary policy nor in the forward

guidance. Expect QE to end before end of 2018 and 1st 20bp rate hike in Q4 2018

* BAML: Do not expect ECB to change language, more likely to wait until spring

but sound confident with 2020 CPI forecast consistent with its target. May

provide additional guidance on composition of QE.

* Citi: Think ECB will validate upward drift in both real GDP and HICP forecasts

with eyes on 2020. Expect 2020 HICP mid-point around 1.8%. Tone likely to remain

dovish to avoid bringing forward expectations of 1st rate hike before mid 2019.