The Globe and Mail reports in its Thursday, April 17, edition that the Bank of Canada's latest interest-rate statement and Monetary Policy Report, released Wednesday morning, acknowledged what has become obvious to most observers -- that Canada's low inflation rate no longer looks as frightening as it did a few months ago. The Globe's David Parkinson writes that the BOC raised its forecasts for consumer price index (CPI) inflation for each of the next six quarters. As a result, it now sees total CPI inflation reaching the bank's 2-per-cent target in the first quarter of 2015, three quarters earlier than it had previously forecast. The BOC sees the recent resurgence in inflation as being driven by energy prices and the slide in the Canadian dollar -- pressures that it largely dismisses as "temporary." For a long while now, Mr. Poloz has been saying the key to sustainable economic growth -- complete with healthier inflation levels -- is a recovery in Canada's exports. That would drive domestic demand, provide the fuel for businesses to invest more to expand capacity, and feed a virtuous circle of growth, wealth and productivity. It will come, he has said confidently.