It is true that we have already increased interest rates. We have increased them five times since July 2017. Given that the economy takes some time to react, it will take time before interest rates have an effect on the economy. It is true that the effects of the movements in the real estate market and the growth rate are less than they would have been had we not increased interest rates. That is how monetary policy works.
We do not do this because we do not like growth as such, we do it to avoid causing an increase in inflation and creating instability, not only in the real estate market, but also in the incomes of Canadians and in the labour market.