One-third of Canadians fear bankruptcy ahead of expected interest rate hike

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The Bank of Canada is expected to raise interest rates Wednesday, raising concerns about the debt levels of Canadians who are already struggling to pay their bills.

 

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Oooh! Not a good situation to find yourself in.🤑

This is outrageous This is going to cost me $1250 more and so far with all the hikes it is costing me $5000 Another daylight robbery Benefiting only the banks Trudeau mismanagement 👎👎👎

Here’s an idea, how about you try to live at an affordable level without trying to keep up with buying every fancy new thing that comes out in the market. Live simple and cheap and the interest rate won’t affect your life to the point of bankruptcy!

More stability and assurances equals higher interest rates? Ok got it. We are screwed.

There’s no reason to raise the rate inflation is minimal and the Canadian economy is faltering this is the worst thing they could do based only in inflated gasoline prices because our PM can’t build a pipeline.

peterdiane01 The crash of a lifetime is coming and nothing getting us out this one. Going to make 2008 look like a celebration. Market manipulation at its best.

peterdiane01 Nah - not til it reaches over 15% - when Pierre was in pmo the interest rate hit 22%. Gonna get there wait and see.

I dunno if people are actually concerned. People always lie on surveys or put what they think they should say. Google search results provide a better insight. Looking at the popularity of bankruptcy searches on Google in Canada you can see that it's at an all time low.

Sunny ways.

Just wait til the carbon tax kicks in. Will totally take the guess work out of it.

thank the liberals!

Maybe a carbon tax will solve the problem

Lies

A carbon tax will ease those fears.Right liberals?

Thanks Obama

What a great time to implement a new tax that will raise the cost of everything, the libs are so out of touch with the working families in this country.

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Debt Is Delaying Canadians' Life Milestones, Including HomebuyingSaving for retirement, getting married, having kids ... all delayed. What a half-ass piece. Not one quote from anyone to whom you refer ie. a debt-ridden millennial. You discuss the what and who but not the why and where lazyjournalism Hmmmmm i wonder how that would happen?!?! In canada a typical Canadian make x amount.... yet after the gvt gets their share of it... x=30-40% of amount made! And we wonder why.....
Source: HuffPostCanada - 🏆 61. / 53 Read more »