Short post tonight because tomorrow is the last time the Bank of Canada will make its target interest rate announcement with Mark Carney as governor. I know that it is too late for you to go out and make millions on interest rate predictions but the target overnight rate staying exactly the same is a pretty sure bet at this point. The BoC is reporting core inflation of only 1.1 percent which is about half of its target. If you ask them they will of course say inflation will return to 2% all by itself near the end of their forecast horizon. But, if for some reason inflation were to stay stubbornly low then the BoC would actually want to lower the target rate. I would really like to see the total meltdown Ron Paul enthusiasts and real estate bubble doomsayers would have in the comment sections and forums if the target rate was lowered tomorrow, but the chances of that slim to none.