The Globe and Mail reports in its Thursday, Sept. 7, edition that before Wednesday's Bank of Canada interest rate hike, financial markets had priced in only a 50-50 chance of such a move. The Globe's guest columnists Steve Ambler and Jeremy Kronick write that this means that half the market believed the bank would hold rates steady, creating uncertainty, which has big economic costs for consumers and businesses alike. The columnists say the BOC must improve its messaging. At a minimum, it can clarify two confusing issues that are at play. First, despite robust and broad economic growth, inflation has remained stubbornly below the bank's 2-per-cent target. The breaking of the link between economic growth and inflation has confounded economists since 2008. A rate hike in such an environment surprises market participants who believe an inflation-targeting central bank should keep rates steady. The rationale for increasing rates is missing since inflation remains muted and it is not clear that strong economic growth will translate into inflationary pressure. The BOC should continue to reinforce the idea that it looks to return inflation to target, not in this quarter, but in six to eight quarters.