Equifax Canada says total consumer debt rose to $2.32 trillion in Q2 of 2022

Equifax Canada's Rebecca Oakes explains what's behind the sudden rise in consumer debt and warns credit card use among Canadians is rising.

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12 comments

  1. So much of the consumer debt has more to do with poor budgeting and mismanagement than it has to do with not making enough.

  2. Based on my observation, most Canadians are pretty well off despite the credit card debt. Boc should hike interest rate by 2% every month for six months to stop this spending spree. Imagine GIC offers 10% rate, eneryone starts saving.

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