Published 2 years ago

Atlantic Canadians making more cuts as interest rates rise, data shows

Summary by Ground News

Inflation in Canada hit a 39-year high of 7.7 per cent in May. Bank of Canada raised its key interest rate by half a percentage point on June 1, bringing it to 1.5 per cent.Economists are predicting another hike of three-quarters of a Percentage point this Wednesday.

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Atlantic Canadians making more cuts as interest rates rise, data shows

According to the latest MNP Consumer Debt Index conducted quarterly by Ipsos, six in 10 Atlantic Canadians say interest rate increases have impacted them.

2 years ago·Toronto, Canada

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