I remain concerned that inflation has a disproportionate effect on lower-income Canadians. That is one of the reasons it's so important to maintain low, stable inflation. The people who suffer the most are the least able to afford it.
The inflation we're seeing today—as we've gone over a number of times—is largely driven by increases in globally traded prices. It is critically important that we move interest rates up to keep inflation expectations well anchored and moderate spending to get inflation back to target.
It will take some time to get there. Our tools do take some time, but I am confident we'll get there.