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MNP Debt Blog

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Atlantic Canadians’ confidence in their personal finances and debt repayment is noticeably shaken as uncertainty and pandemic fatigue continue to build amid the spread of the Omicron COVID-19 variant.

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The impact of this year’s consecutive interest rate hikes and persistent inflation is becoming clear, as Canadians are seeing the effect on their wallets.

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As the country inches closer to the Bank of Canada’s next interest rate announcement on March 2, 2022, many Canadian households stretched thin by the rising costs of living over the COVID-19 pandemic will be bracing for a potentially challenging...

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

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Younger adults and lower-income households are most likely to report stress, stalled life plans, and living paycheque to paycheque.

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More than half of Atlantic Canadians (54%) say they are concerned about their current debt level according to the latest MNP Consumer Debt Index.

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More than half of Atlantic Canadians (54%) say they are concerned about their current debt level according to the latest MNP Consumer Debt Index.

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More than half of Atlantic Canadians (54%) say they are concerned about their current debt level according to the latest MNP Consumer Debt Index.

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More than half of Atlantic Canadians (54%) say they are concerned about their current debt level according to the latest MNP Consumer Debt Index.

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

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