Today news came out that the Euro zone had experienced its best GDP gains in 3 years. Why is this good news to Canadians? Interest rates tend to go up when there is turmoil in the world's financial markets. Greece's near default of it's national debt and the subsequent bail out put many countries finances under the microscope. Spain and Italy also had dangerous amounts of debt. Just last week critics were saying that we might have a double dip recession due to the weak recovery in the US and the fact that the Chinese economy seemed to be slowing down.
Today's reports are a lot more optomistic. Will oil prices go up? Will the TSX and the Dow Jones go up? It's hard to say but it may mean lower interest rates will stick around a bit longer. http://bit.ly/cXVcmC
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