Poloz: It's too soon for us to have a reading on recent rate hikes

Poloz Q&A

• It takes six to eight quarters for the full impact of rate hikes to work through economy
• No surprised by resiliency of Toronto housing market, the demand side is very strong
• With demand strong and supply constrained, you have ingredients for higher home prices

The market is pricing in a 12% chance of a hike on Dec 6 and that rises to 50% by March but it sounds to me like the BOC wants to wait and see.