It is important to remember that we are still at rates that are stimulative to the economy.  I think we are transitioning from "emergency low rate levels" to "extremely low rate".  We may get back to 1.5% overnight rate which is still extremely stimulative.  

The real item to watch here is the exchange rate as that creeps up it will impact economic growth.  Hard for Canada to raise too much more if the US takes a pause here.