After getting hammered since Bernanke mentioned the improving labor market and the ECB is now done with LTRO’s (for now), gold is at a fresh low of the day after Bank of England member Martin Weale, a proponent of previous QE moves in England is saying there may be no need for more. “I do not think there is likely to be a further case once our current program is complete” because of his concern “that there may be more persistence to inflation than one might expect at a time of rising unemployment and weak demand,” due in part to higher energy prices.
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