The Bank of Canada today announced that it is maintaining its target for the overnight rate at 2%. The decision was widely expected by analysts.

The operating band for the overnight rate is unchanged, and the Bank Rate remains at 2.25%.

With today’s rate decision out of the way, North American markets are likely to open little changed Tuesday after a two-day upward trend that followed last week’s strong jobs reports.

There are no additional economic data releasees expected Tuesday from Canada or the United States, but U.S. Federal Reserve chairman Alan Greenspan and other central bankers are to speak at an international monetary conference Tuesday in London.

In business news, Iamgold Corp.’s plan for a shareholders vote on a merger with Wheaton River Minerals could be put on hold at the last minute Tuesday if an Ontario judge approves a delay. Justice Alexandra Hoy of Ontario Superior Court said she would issue her ruling Tuesday morning at about 10 ET, just two hours before Iamgold has scheduled its meeting and an hour before Wheaton River is to hold its vote.

European markets are higher in midday trading.

Overnight in Asia, Tokyo’s Nikkei closed up 82.01 points at 11,521.93.

In Hong Kong, the Hang Seng Index rose 17.31 points to 12,344.16.

Strength in the gold and base-metal sectors pushed Toronto stocks to a higher close Monday. The S&P/TSX composite index climbed 64.01 points to finish at 8,412.75.

The junior S&P/TSX Venture composite index gained 10.21 points to close at 1,595.06.

On Wall Street, stocks rallied to their highest level in a month on Monday as investors fed off Friday’s strong job numbers and stabilizing oil prices.

The Dow Jones industrial average ended up 148.26 points, or 1.45%, at 10,391.08. The S&P 500 closed up 18.03 points, or 1.61%, at 1,140.53. The tech-heavy Nasdaq composite index climbed 42 points, or 2.12%, to 2,020.62.