And we know many Canadians are asking: Is the Bank done raising interest rates, or will rates need to go higher still to relieve price pressures? The short answer is we will be taking each decision based on the information available at the time.
2/3  BIS - Central bankers' speeches  What we can say is that monetary policy is working, and we know it will take more time for the full effects of past interest rate increases to work their way through the economy. With the increases in our policy rate in June and July, our outlook has inflation going gradually back to the 2% target.