In a report RBC predicted that Bank of Canada overnight rate is not going to go up this year. The bank indicates that chance are the rate may go up by 50 basis points in second half of 2014 but that depends on Canadian GDP and household debt balance.
According to a BNN report, Canadian economy will slowly improve in terms of job and GDP numbers. It also expects housing to moderate. In that case it is possible that any gain from other fronts may get offset by weak housing performance.
Keeping those factors into consideration – it is likely that we shall continue to enjoy the low rate environment for a while.