The sectors most adversely affected by the pandemic remain weak but have shown improvement,” the central bank said in its monetary policy statement.
“With inflation running persistently below this longer-run goal, the Committee will aim to achieve inflation moderately above 2 percent for some time so that inflation averages 2 percent over time and longer-term inflation expectations remain well anchored at 2 percent.
Although gold prices are off their session lows, they have not seen much reaction to the latest monetary policy statement and remain under modest selling pressure.