TORONTO -- A new poll suggests one in three Canadians say that they are already feeling the effects of increasing interest rates.
The survey done for insolvency firm MNP Ltd. also found that four in 10 of those queried say that if interest rates go up much more, they are afraid they will be in financial trouble.
Seven in 10 say that with interest rates headed higher, they will be more careful about how they spend their money.
The survey of 2,005 adult Canadians was done online by Ipsos for MNP between Sept. 18 and Sept. 21.
The Bank of Canada has raised its key interest rate target twice this year, moves that have prompted the big banks to raise their prime lending rates.
The central bank is expected to make its next rate announcement Wednesday. Economists expect no change by the Bank of Canada to its overnight rate target.
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