The Bank of Canada left interest rates unchanged and even maintained its “tightening bias” in the announced released this morning. It cited strengthening in the U.S. economy and the Japanese stimulus as positive global signs but noted that, “Europe, in contrast, remains in recession.” It is amazing that every central bank notes the weakness in Europe as a drag on global growth, but investors maintain a positive outlook on the European investment picture.” My glasses do not have a rose-colored tint and therefore I remain very skeptical about the ability of Europe to achieve any economic growth.