BOC's Poloz: Caution isn't a code word for being on hold
- My interpretation of 'caution' is careful, watching for signs of a mistake
- We haven't learned much from the two rate hikes, it's early days still
- Raising rates takes a year to have a noticeable effect on economy
- Housing will contribute zero to growth next year, it's slowing
That's a very hawkish line. It definitely shows Poloz is thinking about hiking rates.