ECB's Lagarde Says Economic Risks Are `Broadly Balanced'
Gold price can't catch a break even as ECB signals lower interest rates for longer
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(Kitco News) - The gold market continues to struggle to attract new bullish momentum with dovish comments from Christine Lagarde, President of the European Central Bank, having little impact on the precious metal.
In a press conference following the ECB's monetary policy decision, Lagarde emphatically stated the central bank's commitment to achieving its new inflation target of symmetrical inflation of 2%.
"In support of our symmetric 2% inflation target and in line with our monetary policy strategy, the Governing Council expects the key ECB interest rates to remain at their present or lower levels until we see inflation reaching 2% well ahead of the end of our projection horizon and durably for the rest of the projection horizon, and we judge that realised progress in underlying inflation is sufficiently advanced to …
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