I'm hearing anecdotally that we're already starting to see house prices drop in Vancouver. We're also starting to see restaurants changing their menus to reflect higher costs. As they don't know what inflation will look like, they're raising them quite high. It's the same with even a barber shop. Someone told me that their barber raised the cost of a haircut by $15, and I wouldn't say that's an area subject to inflation.
Mr. Governor, when we look at the fact that there are critics at the bank saying that you should have been moving things a year ago to start building up a slow and steady nature, what do you say to those critics, given the fact that you can't raise rates because of the heavy indebtedness of Canadians?