The European Central Bank is expected to consider increasing its 1.1 trillion euro ($1.2 trillion) stimulus program at a meeting Thursday as uncertainties grow over the global economy and low inflation.

While no final decision is expected at this meeting, investors will pay close attention to ECB President Mario Draghi's news conference for hints on timing.

The ECB injects cash in the eurozone economy by buying bonds with newly created money. To provide more support to the economy and push up inflation, which is far too low at minus 0.1 percent, the ECB could extend the program beyond its September deadline or increase the overall size.

Among key concerns are a slowdown in China and developing economies as well as a rise in the euro in recent weeks.