Canadians' financial stress ramping up despite interest rate cuts: insolvency firm
- Half of Canadians are $200 or less away from being unable to cover their monthly bills and debt payments, according to MNP Ltd.'s quarterly report on consumer debt.
- More than half of Canadians believe they will not be able to cover all living and family expenses in the next year without accruing more debt.
- Canadians' personal debt rating has hit an all-time low, with a third of respondents stating they are insolvent, according to the survey by Ipsos.
- Despite interest rate cuts, Canadians feel unprepared for unexpected financial events, as reported by Grant Bazian, President of MNP.
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Total News Sources0
Leaning Left7Leaning Right3Center4Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
C 29%
R 21%
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