“I think most people have trimmed the excess as much as they can, but if you cut back on your grocery budget, but then the cost goes up again next month, you have to change your budget again next month,” said Carson. “Budgets evolve, they’re not a static thing.”
The current rate has increased 450 basis points since March 2022 after being one per cent or lower for most of the past 13 years. But he was not sold on the need for a potential hike, and said the Bank of Canada is in a stage of being overly cautious. Carson said this was not so much due to increased sales but inflation pushing the price of goods higher.Article content
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Debt worries up as higher interest rates and rising cost of living take a toll: MNP52 per cent of Canadians say they are $200 away or less from not being able to pay all of their bills at the end of the month
Source: BurnabyNOW_News - 🏆 14. / 77 Read more »
As new interest rate hike expected, Albertans feeling the impacts hardest: reportMNP Consumer Debt Index shows 74 per cent of Albertans are feeling the effects of Bank of Canada rate increases\u003B another expected Wednesday.
Source: calgaryherald - 🏆 64. / 52 Read more »
Albertans feeling impacts of interest rate hikes hardest: reportMNP Consumer Debt Index shows 74 per cent of Albertans are feeling the effects of Bank of Canada rate increases\u003B another expected Wednesday.
Source: calgarysun - 🏆 63. / 52 Read more »
Albertans feeling impacts of interest rate hikes hardest: reportMNP Consumer Debt Index shows 74 per cent of Albertans are feeling the effects of Bank of Canada rate increases\u003B another expected Wednesday.
Source: calgarysun - 🏆 63. / 52 Read more »
A record number of Albertans are concerned about being able to manage their debtThe number of Canadians facing insolvency has hit a record high, with more than a third (35 per cent) saying they cannot meet their financial obligations.
Source: CTVCalgary - 🏆 26. / 68 Read more »
2 in 5 Ontarians can't meet financial obligationsThe latest research by MNP Consumer Debt Index finds two in five Ontarians don't make enough to cover bills and debt payments.
Source: CTVToronto - 🏆 9. / 84 Read more »