When the Bank of Canada paused the interest rate cuts in January 2026, many Canadians couldn’t help but let out a big sigh. A rate cut would’ve helped; instead, nothing feels easier for Canadians still struggling under financial constraints.
Credit card balances aren’t shrinking. Mortgage payments are still painful. Grocery bills keep climbing. For households already stretched thin, a rate pause hasn’t brought relief — it has prolonged uncertainty.
But you don’t have to stay stuck. Money.ca talked to Stacy Yanchuk Oleksy, CEO of Money Mentors, a non-profit credit counselling agency that works with Canadians facing debt stress,…