Thanks for the question.
I would say first off that in terms of the implications for Canadians and for monetary policy, we take this into account; we take the spread between our rates and the rates that Canadians are paying, whether it's on prime borrowings or on mortgage rates--not just what's posted, which is what is reported, but what they're actually paying.
If you look at the chart--as you have--you'll see, for example, that on variable rate mortgages, actual variable rate mortgage payments continue to come down. The discounts to posted five-year mortgages and the discounts to posted prime re-emerged over that time, so the effective rates that Canadians have been paying have come down over that period of time.
This is not for all Canadians. The likelihood of somebody writing a letter to you or to me—and I get plenty of these letters—is partially a product of whether they're in that camp.
Your question is, what do we do about it? We take it into account. We care about what rate Canadians are actually getting and what that means for economic activity and, ultimately, inflation.
I'll leave it at that and let you follow up.