MORNING BID EUROPE-IMF warns on economy before ECB rate meeting

* A daily view from Europe Money and Politics Editor Mark John. The views expressed are his own.

LONDON, Sept 3 (Reuters) - A stronger U.S (Other OTC: UBGXF - news) . dollar, depreciating emerging market currencies and falling commodity prices - such are the risks to the global economy cited by the IMF in a note to staff ahead of the G20 meeting.

It (Other OTC: ITGL - news) advised central bankers to keep monetary policy loose and the ECB specifically to extend its asset purchases if inflation does not tick up. That may find an echo in today's rate meeting where the Frankfurt-based bank is seen holding off further action for now but hinting it could ramp up its bond-buying programme if prospects cloud further.

A photograph of a dead Syrian toddler washed up on a Turkish beach is the latest shocking image of a migrant crisis confounding Europe's leaders. Hungary's Viktor Orban is in Brussels today for what could be uncomfortable talks as the bloc seeks to find consensus on an emergency plan to distribute and relocate refugees.

Is there any sign of an emerging political will to act?

After Angela Merkel this week strongly signalled Germany's commitment to shelter those fleeing war and violence, there have been indications of a more open posture in France. Last night Rome, Paris and Berlin jointly called for a review of existing asylum rules and a "fair" distribution of asylum-seekers. Britain remains firmly on a line that allowing in increasing numbers of migrants is not the answer. (editing by John Stonestreet)