- We are likely to react a little bit more readily to the upside risk given it's already above our control range
- Concerns over inflation are heightened much more than normally
That's a good hint that a BOC hike is going to come early in the 'middle quarters' of 2021 but I suspect they want to see how omicron and inflation play out a bit longer before they offer a stronger signal.
Earlier Gravelle said they believe inflation will decrease over time.
