Almost Half of Canadians Are 200 Dollars Away From Debt

Almost half of Canadian households feel they can’t cover basic expenses without going deeper into debt. The Ipsos survey results yesterday show 40 per cent of Canadians are struggling with debt, while the same number of respondents are within 200 dollars of not being able to cover monthly expenses, while analysts point to the Bank Of Canada raising its benchmark lending rate twice since the beginning of summer as one of the key factors here. Meanwhile, The Bank of Canada said today it won’t budge on its interest rate. The central bank is leaving it at one per cent, signaling future hikes are on the horizon however, saying it remained unchanged this time around as it expects the recent strength of the Canadian dollar to slow the rise of inflation, and points to trade deal uncertainty south of the border.