Tuesday, April 13, 2010
Canadian Rates Following Australia?
In Australia they have raised the prime rate by more then 1.00% over the past 6 months. A lot of economists are comparing our two countries. There is some major differences between the countries which could give you some perspective on the rates. First Australia's unemployment is running around 5.3% and Canada is at 8.7% unemployment. Australia never went into a rec session compared to us. The most important factor in my opinion is that are major trading partner is the USA, Australia is China. Canada is tied to the US economy and as they go we will not be to far behind or ahead.