Yes, that would make total sense. A slightly higher CAD supported by a Bank of Canada rate increase absolutely helps reduce the high prices paid on imports (foreign purchased inputs to manufacturing, fruits, vegetables, nat gas, gasoline pump prices, steel, copper, and many other commodities priced in US dollars) and it also reduces foreign speculation on domestic real estate, since Canadian real estate then costs more in foreign currency.

In fact your reasoning is so sensible I nominate you for Bank of Canada Governor. Anyone is better than Poloz and Wilkins, who sewered the dollar with 2 reckless rate cuts in 2015, stoking all of the above but in the reverse.