Bank of Canada Interest Rate Expected To Stay About The Same

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STEPHEN POLOZ
Economists say central bank governor Stephen Poloz could say something that affects the value of the Canadian dollar. (CP) | CP

OTTAWA - The Bank of Canada is not expected to move interest rates higher or lower today when it announces its trend-setting rate.

But economists say central bank governor Stephen Poloz could say something that affects the value of the Canadian dollar.

The loonie has been drifting lower for days, dropping to below 94 cents this week.

At least one analyst, Bank of Montreal chief economist Doug Porter, says Poloz may issue a statement that suggests the weakness of the currency is not unwelcome.

The bank's policy rate has stood at one per cent since September 2010.

Other happenings today on and around Parliament Hill include:

— The major parties hold their weekly caucus meetings, followed by media availabilities with the opposition leaders.

— Liberal MP Gerry Byrne has called a news conference to talk about what he considers to be wasteful spending and poor economic management by the government.

— Senate ethics officer Lyse Richard appears behind closed doors before a Senate committee considering changes to the Senate's conflict-of-interest code.

— Department of Aboriginal Affairs representatives will hold a background briefing via teleconference on Bill C-15, the Northwest Territories Devolution Act.

— California-based Fortinet will make an investment announcement at Willis College and Employment Minister Jason Kenney will be there.

— Kaydor Aukatsang, a representative of the Dalai Lama for North America, speaks at a meeting of the Parliamentary Friends of Tibet.

— Auditor general Michael Ferguson appears at the Common transport committee, where they are discussing the transportation of dangerous goods and Canada's safety management systems.

— The Commons health committee hears witnesses on the government's role in addressing prescription drug abuse.

— And New Democrat MP Yvon Godin appears at the Commons official languages committee to discuss a motion calling on the Harper government to keep open the Quebec Maritime Rescue Centre, the only bilingual centre of its kind in Canada.

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