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Two national trends could mean big trouble for the average Canadian consumer’s wallet. The Bank of Canada interest rate increases, and Record-high Canadian gas prices. Let’s break those down further. Canadian Interest Rates Since July 2017, the Bank of Canada has increased interest rates from 0.5% to 1.5%. The 1.5% interest rate is the highest

Rising interest rates are a front-of-mind topic for most Canadians. Not only can increased rates affect unsecured consumer household debt — like credit cards, some lines of credit, and old bills — but it can also affect secured debts — like your mortgage renewal. On July 11, 2018, the Bank of Canada increased interest rates

On July 11, 2018, the predicted Bank of Canada interest rate increase came true. The Bank of Canada (BOC) announced that interest rates are going up to 1.5%. This is the fourth time interest rates have risen in a year. They first rose from 0.5% to 0.75% in July of 2017, then to 1% in

Rising mortgage rates are top of mind for many Canadians in 2018, and if you’re already in debt, increasing interest rates can be particularly worrisome. Since July of 2017, the Bank of Canada has increased Canadian interest rates from 0.5% to 1.25%. While this is still a relatively low interest rate in historical terms, the