Bank of Canada Announcement Bank of Canada maintains overnight rate target at 1 per cent                        The Bank of Canada maintained its target rate. It is worth reading the final paragraph(below) as it mentions possible withdrawal of "monetary policy stimulus", meaning rate hikes are possible in the near future.    "Reflecting all of these factors, the Bank has decided to maintain the target for the overnight rate at 1 per cent. In light of the reduced slack in the economy and firmer underlying inflation, some modest withdrawal of the present considerable monetary policy stimulus may become appropriate, consistent with achieving the 2 per cent inflation target over the medium term. The timing and degree of any such withdrawal will be weighed carefully against domestic and global economic developments"    Bank prime is 3.0%  The next Bank of Canada Announcement is scheduled for June 5, 2012

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By Ray Turchansky, For Postmedia News