The ECB's rate announcement comes the day before EU leaders are set to convene in in Brussels to consider the European Commission's ambitious 750-billion-euro ($848 billion) recovery plan for EU member states, according to Deutsche press agency (dpa).
With this in mind, Lagarde is likely to renew her call for EU member states to resolve their differences on how the aid would be dispensed and back the recovery fund to ensure the region remains on course for a rebound.
This week's meeting of the ECB's 25-head governing council takes place amid signs that the 19-member eurozone economy has begun to stage a comeback from the chaos unleashed by the spread of the novel coronavirus.
After the ECB unveiled a massive 1.35-trillion-euro ($1.52 trillion) monetary action plan in recent months to face up to the crisis, analysts are not expecting any major new announcements from the central bank on Thursday.
Instead the Frankfurt-based ECB is expected to leave its key interest rates unchanged at historic lows, holding its benchmark refinancing rate at 0 percent.
