The Bank of Canada is in an enviable position relative to the Fed, they don't need to babysit markets and fret about potential volatility. They can set monetary policy based on what they see unfolding in the economy. They've also made less of an effort over many years to be predictable, so they have more leeway to hike.

That's why -- despite a tough omicron wave and lockdowns -- markets are pricing in a 65% chance of a hike at the top of the hour.