It is strange just how drastically the Bank of Canada’s worldview has changed in the not quite four years since Stephen Poloz has been in office. Starting with his Dutch Disease speech in September 2012, Mark Carrney as Governor of the Bank of Canada interfered in the political process in an absolutely unprecedented way. He attacked Mulcair’s views that the Canadian economy had been hurt by overinvestment in the oil sands, without ever deigning to address his points about the proper pricing of carbon emissions. Carney saw a future with commodity prices rising continuously to at least 2030, less than two years before oil prices started their spectacular dive on world markets. He stood by his comments till he ended his term in office on 1 June 2013.