CIBC sent out a good article from Benjamin Tal today on the forecast of rates. Ben Tal is looking for the rates to increase by .50-.75% prime rate as of this July. Then the bank of Canada will stay put until the Fed in the US makes their move on rates. The Fed in the us is not expected to move the rates till early part of 2011.
I would agree with these comments. The problems of growth in the us is deeper then being reported and will take longer for the ship to turnaround.