The thing is, interest rates are at emergency low levels, and have been for years. Intended to last for only a short time while the 2008 collapse happened. And since there is no economic emergency anymore, why shouldn't the BoC be raising rates back to normalized rates (3 or 4%)? Just to sustain unsustainable debt/ mortgage pig-out by Canadians, that is somehow propping up a very fragile Canadian economy? Who cares about inflation? The lack of inflation wasn't the reason for these ultra-low rates to begin with.

The BoC needs to grow a set, raise rates now, or it will be in very much worse shape if they keep putting it off. There will be a recession soon, and the BoC is going to need substantial wiggle room (they have none right now). The US Fed Reserve at least knows this, and is doing something about it.