Published: October 22, 2014
Google is not going to renew the PageRank in the future - at least, according to a recent video by John Mueller. It is already and obsolete metric.
Many have already labeled the Google PageRank as "dead".
The news spread like wildfire after several articles on popular online marketing sites, including SearchEngineLand and SearchEngineJournal.
The fact that Google won't be updating the PageRank "in the future" means it will no longer be of use to webmasters. At least, the visible PageRank appearing in the Google Toolbar,
According to the SearchEngineLand article, Google has last updated the PageRank in December 2013. Since then, it stayed frozen, the same.
It's already an obsolete metric, but Google will certainly continue using their own internal (invisible) ranking tool (as they have already been doing until now).
Obviously, the PageRank indicator green line will be removed from the Google Toolbar's newer versions. It remains to be seen when.