A majority of Canadians say they will be financially hurting due to the latest Bank of Canada (BoC) rate hike, according to a new poll.
With another recent increase to the BoC’s key overnight rate—the tenth rise since the start of 2022—59 percent of Canadians say it will have a negative impact on their personal finances, according to the survey released by the polling firm Angus Reid on July 20.
The BoC has been raising interest rates in an effort to get inflation down to 2 percent, with the bank’s benchmark interest rate sitting at 5 percent for the first time since April 2001. However, Canadians may not be seeing the anticipated benefit yet….