Gold prices under pressure against the euro as ECB raises interest rates by 25 basis points
Thursday, as expected, the ECB raised its interest rates on the marginal lending facility, and the deposit facility will be increased to 4.00%, 4.25%, and 3.50%, respectively.
"Eurosystem staff expect headline inflation to average 5.4% in 2023, 3.0% in 2024 and 2.2% in 2025. Indicators of underlying price pressures remain strong, although some show tentative signs of softening," the central bank said in its monetary policy statement.
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