Agreed.  I do believe the BoC jumped quickly off the line to raise rates, knowing full well that GDP growth in Canada was very lopsided to resources and real estate.  Poloz knows full well that in time the general softness of our economy required that he have wiggle room to lower rates if  weakness prevails.   The rise in $CDN has contributed to export decline and this has to stop. With a high tax,  high wage economy we cannot effectively compete in the US market if our $ is above $0.75.   

This past month I purchased a pile of $US equities with the stronger $CDN at nearly $0.83 and I believe, as the loonie heads back to the mid $0.70's, this will be the 'trade of the day'. Time will tell. So far, so good.