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Is the Bank of Canada’s tame inflation outlook correct? Add to ...

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The Bank of Canada is not worried about Canada’s surging inflation. But it felt a certain urgency to make sure you’re not worried about inflation, either – especially if you’re a currency or bond trader.

That may be the key takeaway from the central bank’s interest-rate decision Wednesday, in which it summed up its views on the Canadian economy and held its key rate unchanged at 0.5 per cent. Conspicuously, the bank’s rate announcement led with a discussion on inflation – which has been much lower down in the rate statements of the past six months. Anyone familiar with central bank communications will tell you that this is no accident.

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