The euro edged away from an 11-year low on Monday as investors braced for a crucial meeting later in the week which could see the European Central Bank take its boldest steps yet to revive the euro zone’s moribund economy.
The ECB is widely expected to launch quantitative easing—effectively the printing of euros to buy government bonds—when it meets in Frankfurt on Thursday. But it is unclear how the program is designed, how big it is, and whether it will be seen as credible and sufficient.
A Reuters poll published on Monday showed money market traders expect the ECB to announce 600 billion of sovereign bond purchases, but they also believe this will not be enough to bring inflation up to target.
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