trap() is a bit ambiguous, since in floating point operations it
means that something is actually raised and not suppressed. So one
could write:

from decimal import *
c = getcontext()
c.traps[Inexact] = True
>>> Decimal(9) / 11 # raises now!

with trap(Inexact):
    Decimal(9) / 11 # quiet!



As for "ignore" vs. "suppress", I'm with the people who think that they
are largely synonyms here.  I find "ignore" slightly catchier and nicer
to read.  Being pedantic, one could call it "ignore_once".

I would also like "catch", or pedantically, "catch_once".