The Bank of Canada (BoC) will tell us tomorrow whether it will raise or lower interest rates or leave them untouched. And while the overwhelming expectation among economists is that things will stay as they are, a growing number think that BoC governor Stephen Poloz may signal that the bank is contemplating a future rate hike.
Many of the big banks expect that increase to happen in the first half of 2018.
READ MORE: The number of young Canadians going bankrupt is rising but student debt isnt the whole story
Are you ready for it?
If you arent, youre not alone. Half of Canadians would be concerned about their ability to pay their debts if rates were to go up, according to a new Ipsos poll conducted on …
Read the full article at: http://globalnews.ca/news/3370756/could-you-handle-a-33-per-cent-interest-rate-hike-on-your-debt-if-not-start-paying-it-off-now/
