Let me say a couple of words about affordability.
As I mentioned, the war in Iran has caused global oil prices to go sharply higher. They have continued to go up since we published our monetary policy report. In Canada, the most direct impact is that it's pushing our gasoline prices up. We've all filled up our cars and we've seen the prices. That's impacting every Canadian and, particularly for lower-income Canadians, that's a big deal.
I can't predict what's going to happen with the war in Iran, but the market expectations are that oil prices will be coming down. We'll see what happens, but certainly it will help if that happens.
We can't control that. What we can control is the use of monetary policy so that higher energy prices don't spread to other goods and services prices and become generalized ongoing inflation.
That is our commitment. We will bring inflation back to 2% and keep it close over time.