The Globe and Mail reports in its Thursday, May 26, edition that the Bank of Canada had little to say in Wednesday's interest-rate announcement. The Globe's David Parkinson writes that what is more significant is what the BOC did not say. The BOC left its key interest rate unchanged at 0.5 per cent. It is still comfortable with inflation levels. The Canadian dollar is more or less in line with what the bank assumed in its most recent economic projections in April. Most importantly, the BOC spelled out its "preliminary assessment" of the economic fallout from Alberta's wildfires. It estimated that the damage and oil output disruption would slash about 1.25 percentage points from annualized quarter-over-quarter growth in real gross domestic product. The damage estimate implies that we may face a small economic contraction in the quarter. The BOC has bought itself seven weeks -- until its next rate decision and quarterly economic outlook update, in July -- to form a clearer view of where we are headed once the economic smoke from the Alberta wildfires clears. Even if it does not have definitive answers by then, we can expect the BOC to at least give us a more thorough annunciation of the questions.