EUR/USD Consolidates at 1.1600 Before the ECB Meeting

The ECB will make its monetary policy announcement is on Thursday. After reducing the pace of asset purchases under the Pandemic Emergency Purchase Programme (PEPP) in September meeting. ECB is expected to keep policy unchanged and leave a decision on its pandemic emergency bond purchase programme to December. 

Investors will also be watching the speech of ECB President Christine Lagarde. Even CPI in September jumped to 3.4% a 13 year high, Lagarde has stuck to the script that higher inflation is transitory, despite signs of rising inflationary pressures. 

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