This is a welcome improvement. But inflation is still too high and far from the Bank’s 2% target. At its current level, it continues to cause hardships for Canadians, especially the most vulnerable among us. While Canada may have turned the corner on inflation, we know that it will take time to get back to the Bank’s inflation target.
So, I’d like to take this opportunity I would like to thank Thomas Carter, Luis Uzeda and Martín Harding for their help in preparing this speech. Not for publication before February 16, 2023 5:55 p.m. Eastern Time  -2to talk about the importance of staying the course in the fight against inflation, despite the short-term pain that high interest rates can cause.