Financial Post: Interest rate increases stress Canadian debt holders
The Financial Post discusses the impact of central bank interest rate increases on the savings and discretionary spending of the average Canadian with Peter Miron at Environics Analytics.
Canadian debt holders — especially millennials — may see their savings and discretionary spending under pressure as the Bank of Canada announced it would be hiking interest rates to 1.75 per cent, according to an Environics Analytics study. “These younger families have not had time to build up their capital and will find their consumption and savings rates pinched, particularly by the increased interest payments on their higher mortgage balances."Read the Financial Post article (opens in a new window)