Inflation is too high around the world, and rapid increases in interest rates are raising the costs of servicing debt. At the Bank of Canada, our listening and communication skills are running at full tilt as we hear from households and businesses and explain our decisions.
We are hearing from Canadians about how high inflation and tighter financial conditions are affecting their daily decisions and their lives. And we are working hard to earn their trust and provide clarity on the path back to price stability. High inflation affects everyone, but lower-income households feel the burden of high inflation the most.