How might the Bank of Canada’s decisions that raised the overnight loans rate from 0.25 percent to 1 percent have been influenced by the unemployment rate and the inflation rate?

At the end of 2009, the unemployment rate was 8.3 percent, the inflation rate was 0.8 percent, and the overnight loans rate target was 0.25 percent. In mid- 2014, the unemployment rate was about 7 percent, the inflation rate was 2.1 percent, and the overnight loans rate target was 1 percent.