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MNP Debt Blog

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Old Port of Montreal in autumn Red maples and old Montreal buildings skyline reflected on St Lawrenc

Quebecers left with the smallest financial cushion in Canada as strain deepens

According to the latest MNP Consumer Debt Index, Quebecers’ financial vulnerability is intensifying as persistent economic uncertainty, concerns about borrowing costs, and employment anxiety weigh on household confidence.

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Nearly two-thirds of Quebecers say they desperately need interest rates to go down (63%, -2 pts), according to the latest MNP Consumer Debt Index.

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Two-thirds of Saskatchewan and Manitoba residents (65%, +5 pts) say they desperately need interest rates to go down following two consecutive interest rate pauses, according to the latest MNP Consumer Debt Index.

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Two-thirds of British Columbians (67%, +2 pts) say they desperately need interest rates to go down despite two consecutive interest rate pauses, according to the latest MNP Consumer Debt Index.

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Two-thirds of Manitoba and Saskatchewan residents (65%, +5 pts) say they desperately need interest rates to go down following two consecutive interest rate pauses, according to the latest MNP Consumer Debt Index.

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Two in five Ontarians (43%) report they are $200 or less away from financial insolvency each month, increasing five points this quarter, according to the latest MNP Consumer Debt Index.

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Nearly half of Albertans (47%, +2 pts) report they are $200 or less away from financial insolvency each month — more than those in any other province — according to the latest MNP Consumer Debt Index.

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Canadians’ debt outlook reaches lowest point in five years

More Canadians report their current and expected debt situation is deteriorating.

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Manitoba and Saskatchewan residents’ anxiety about their debt situation is building, amid rising interest rates, persistent inflation, and heightened affordability concerns.

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Quebecers’ anxiety about their debt situation is building amid rising interest rates, persistent inflation, and heightened affordability concerns.

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