'Double whammy' has Canadians more concerned about debt than ever, survey finds

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'Double whammy' has Canadians more concerned about debt than ever, survey finds
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Nearly half of Canadians are concerned about debt amid rising interest rates and inflation, says poll. Find out more

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he division of national accounting firm MNP LLP said. The index measures Canadians’ attitudes toward their consumer debt and gauges their ability to pay their bills, endure unexpected expenses and absorb interest-rate fluctuations without approaching insolvency, it said. The firm said Canadians are feeling significantly worse about their ability to absorb interest rate increases after last year’s rapid hikes. Seven in 10 Canadians say they already feel the effects of interest rate increases, while more , now say their ability to absorb even a one percentage point hike has worsened, its report said.

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