The Governing Council of the European Central Bank will meet this Thursday for a scheduled monetary policy meeting, and the backdrop couldn’t be bleaker. Lockdowns are being re-imposed across Europe as Covid-19 cases are surging and the economic outlook is deteriorating by the day, which will continue to weigh on inflation. The ECB however is not yet expected to add to its stimulus, but rather to signal action for December. “We expect a clear signal for action in December coming from the meeting,” writes Dirk Schumacher of Natixis in a note from last week. “The risk to the recovery is rising again and latest ... (full story)