The Bank of Canada has left interest rates unchanged as expected, keeping the key overnight rate at 2.75%. But the central bank is leaving the door open for cuts in the future.

In the bank’s accompanying policy statement, it said that despite strong fourth quarter growth it may have to adjust rates to deal with a stronger Canadian dollar.

Another leading economic indictor to be released later today will be North American auto sales figures. Ford is reported to be planning a week-long shutdown of its plant in Oakville.

Meanwhile, Wall Street stock index futures are indicating a lower opening. In London at midday, the FT-SE 100 index is off 12.1 points to 4,397.9. Frankfurt’s DAX is up 0.2%. The Paris CAC-40 is flat.

In Asia’s Tuesday trading, Tokyo’s Nikkei average edged up 6.88 points to 10,410.15. Hong Kong’s Hang Seng index declined 44.76 points to 12,412.23 on profit-taking.

Yesterday, North American stock markets rose. The Nasdaq composite index closed at a 22-month high , rising 29.56 points to 1,989.82, close to the benchmark 2,000-point level. The index was affected by a report from the Semiconductor Industry Association, which says chip sales in October were up 23% from a year earlier.

The Toronto Stock Exchange added 65.18 points to 7924.57. The Dow Jones industrial average jumped 116.59 to 9899.05. The S&P 500 index gained 11.92 to 1070.12.