The vast majority of Canadians (82%) said that they will be more careful with how they spend their money amid the growing possibility of interest rate hikes, according to a poll by MNP Debt.
More than half (52%) also expressed concern about the impact of rising interest rates on their financial situation, and 44% told MNP that if interest rates go up as they fear, they might end up in financial trouble.
Thirty-five per cent of respondents said that they are anxious of rising interest rates pushing them towards bankruptcy. Younger Canadians and households with income under $100,000 are the demographics most likely to say that they will be in financial trouble should a rate hike take place.
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