<|begin_of_text|><|begin_of_text|><|begin_of_text|>The Financial Post’s Geoff Zochodne did a sweep of the big banks’ economists on Oct. 1 and found that the received wisdom now is that the Bank of Canada will quicken its march to a more normal policy setting.
<wm>Now I made no apologies for a difference of opinion here is why I said that.
Many of the big players said that their banks are going to keep their rate cuts on hold given the tightening pressures on financial institutions and high commodity prices. That doesn't make it make sense. All in all there are only two possibilities: either all the big banks are getting shorted by central banks when this process starts with interest rates being lower in January or the banking system has some hidden buffers in place that can be</wm> called upon when interest rates rise. That has proven elusive to me for a decade and now seems increasingly