The Argentina international grabbed a last-gasp winner against Partizan Belgrade in the Europa League, securing a sixth straight win in all competitions for Andrea Stramaccioni's men in the process.
The Nerazzurri's fine run has seen them keep in touch with Juventus, Napoli and Lazio in the higher reaches of the Italian championship.
Despite Thursday's heroics, Palacio was eager to focus on the task in hand, without worrying about next week's decisive visit to the Juventus Stadium.
He told the Corriere dello Sport: "First we need to think about Bologna, who are a tough team who play very well at home.
"We need to work very hard to win at Bologna, and then against Sampdoria, before we can start thinking about Juventus.
"With time this squad can only get better, we can play much better than we are playing now.
"It's important to keep winning and stay in and around the top spots."
Palacio believes the attacking trident employed against Partizan - comprising Antonio Cassano, Diego Milito and himself - could pay dividends at the Stadio Renato Dall'Ara.
"I think it's easy to play alongside those two," he added. "They're champions and we can only improve because it's not always easy to play with three up front.
"But we're getting better and better."
Less encouraging fallout from the Beneamata's midweek travails was the serious injury picked up by Philippe Coutinho.
The Brazilian playmaker joins Wesley Sneijder on the treatment table after suffering a stress fracture to his tibia against the Serbians.
"Coutinho is a great player," said Palacio. "He's still young, whenever he gets on the ball you know he can beat his man.
"He's fast and plays very well so I think he has a bright future."
Bologna will be grateful to be back at home after suffering two straight losses on the road, with the Rossoblu's only defeat in Emilia-Romagna coming courtesy of Inter's fierce rivals AC Milan.
Felsinei striker Alessandro Diamanti told Gazzetta.it: "Inter are a great team so they think it will be easy to win, but they're coming up against a tough outfit.
"We still have to go out there and give more than 100 per cent."