"I think it's unlikely", Draghi said at a news conference.
"Our December decisions will tell you what we are going to do in the coming months", said Draghi.
The euro stood near a three-month low ahead of a European Central Bank meeting later on Thursday, while the Mexican peso rose to a six-week high after the conclusion of the final USA presidential debate before the November election. The benchmark rate will stay at zero. The economists cut their inflation outlook for this year and for 2018, suggesting that the bank will have to keep pushing hard to lift inflation in the currency bloc closer to 2%. But unemployment remains high at 10.1 percent and is falling only slowly. What was most interesting today was not what the European Central Bank did discuss - which appears to have been very little - but what they didn't, being an extension of asset purchases beyond March 2017 or tapering of asset purchases.
Many analysts think the European Central Bank will extend the bond-buying program for at least six months beyond March. Instead, he was asked about the mechanics of the ECB's bond-purchase program and progress on work to ensure it can be executed smoothly.
He said that this is a discussion the council is expected to have in December, noting that the members "want to see all the inputs useful to this discussion".
One key question unnerving markets is whether the European Central Bank will eventually run out of bonds to buy, and have to end the stimulus before it wants to.
The Frankfurt-based bank was quick to deny the report, but it pushed up bond yields anyway and served as a reminder of how volatile sentiment remained regarding the currency bloc's economic prospects. Departing from that rule, however, could lead to charges of political favoritism. The bank has said the purchases will continue in any case until inflation rises to more acceptable levels from the current 0.4 percent, but has left the end date otherwise open.
The ECB's 1.74 trillion euro quantitative easing (QE) scheme is now set to expire in March but the bank has always said that it would run until it saw a sustained recovery in inflation.
Analysts polled by Reuters unanimously expect unchanged rates with the vast majority predicting a three- to six-month extension to asset buys in December.