Main Street loans may not be the right solution for some businesses, in part because the CARES Act states clearly that these loans cannot be forgiven. Our credit facilities have improved lending conditions broadly, including for potential Main Street borrowers. The evidence suggests that most creditworthy small and medium-sized businesses can currently get loans from private-sector financial institutions.
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.