As Bank of Canada decision looms, Canadians worry they can’t afford more hikes
interest rate decision next week, according to the MNP Consumer Debt Index.The insolvency firm’s quarterly survey tracks how Canadians are feeling about their ability to pay down debt, and the latest instalment released Wednesday shows a mixed picture of worry about handling future rate hikes and some improvements in the ability to cope with higher interest costs.Some 28 per cent of respondents indicated their ability to deal with an additional percentage point of rate hikes had worsened from the previous quarter. Phrased another way, some 37 per cent of respondents said they couldn’t absorb another $130 in interest payments on their debt, compared with 32 per cent in the previous survey.MNP’s Consumer Debt Index is based on Ipsos polling of more than 2,000 Canadians between Sept.
Read more on globalnews.ca
