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Gold Inching Toward Bull Trigger

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  • "In light of the revision of the monetary policy path implied in its projections, the Committee evaluated a quicker reduction of monetary stimulus already on this meeting."
  • Committee decided that the best strategy would be to maintain the current pace of stimulus reduction but highlighting the possibility of a quicker adjustment in the next meeting. In the Committee's view, this strategy has the following two advantages:
    • First, to accumulate more information regarding the traditional determinants of inflation.
    • Second, to clarify the distinction between transparency about conditional projections and invariant monetary policy intentions.