Household Debt Leaves Canadians 'Maxed Out' With No Plan For Repayment: Survey
By Daniel Tencer
Nearly half of consumers are a few hundred dollars away from insolvency.
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If you're wondering why the Bank of Canada has all but shelved plans to keep raising interest rates, look no further than the financial state of Canadian households.
Nearly half of them — 48 per cent — say they would not be able to pay their bills if they came up just $200 short in any given month, according to the latest quarterly survey from business advisory firm MNP Ltd.
Let's give the banks the ability to counterfeit money for their loans. #WhatCouldGoWrong?
Don't stop where the ink does.
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