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Gold/Mining/Energy : A to Z Junior Mining Research Site

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To: 4figureau who wrote (3564)	3/4/2003 10:15:36 AM
From: philv	Read Replies (2) of 5423

Bank of Canada raises interest rate quarter %. On Friday, newspaper National Post had an article about inflation now at a 12 year high, mostly due to rising crude oil and gas prices. Banks quickly followed by raising mortgage rates. Here's the real picture: Prices are going up! Almost all prices! And now, interest rates are going up. And wages, well, they are lagging, so the public, as always, has to absorb these increases. So far, so good. Canadian loonie rising against the $US. It's a mixed bag, with a faint smell of inflation in an otherwise depressed economy. Canada does not control its economic destiny, depending hugely on the US as 80% of Canadian trade goes to the U.S. So, Canada's economic direction is hard to call without taking into consideration US monetary & fiscal policy. Phil

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