The Bank of Canada's official mandate to promote the “the economic and financial well-being of Canadians,” isn't compatible with the Bank's real mandate which is apparently to look out for the good of a small number of powerful banks.
Since we don't know the future, all investment is a type of speculation, and this doesn't mean banks are behaving nefariously when investing other people's money.
While government spending re-allocates and distorts resources, it is not necessarily inflationary. Inflation really just stems from money creation and fractional-reserve lending carryied out by central banks and private banks — thus creating money "out of thin air."
Like taxation, government spending diverts resources from real wealth-generating ventures. Borrowed funds for continued spending must also be repaid, so current spending translates to future taxation.
One of the easiest ways of asserting control over the private sector is to manage the money supply with a central bank. Naturally, Marx was rather fond of the idea.
