In any case, it seems doubtful that Poloz actually wants to raise rates. The loonie dropped against the dollar by 1.2% last month. It has decreased in value at a rate of 7.0% per annum from May 2013, the month before he took off ice, to date. His objective seems to be to drive the loonie down as far as it can go, so why would he want to hike the overnight rate?