If this prediction is accurate, those on variable rate mortgages are going to start paying more this month:

'Economists at J.P. Morgan expect the Bank of Canada will raise its benchmark interest rate at its Jan. 26 meeting, ahead of the central bank’s own timeline for liftoff.'

https://www.bnnbloomberg.ca/bank-of-canada-will-hike-rates-this-month-j-p-morgan-1.1706717?s=09