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More Than a Third Think Interest Rate Increase to Have
Negative Impact on Their Personal Finances
three quarters think Canada is more expensive than 3 years ago
August 21st – In a random sampling of public opinion taken by The Forum Poll™ amongst
1150 Canadian voters, almost a third (BTM2: 34%) say the increase in the Bank
of Canada’s prime interest rate will have a negative impact on their finances
with (22%) saying it will have at least a somewhat negative effect, and (12%)
saying it will have an extremely negative effect.
two in ten (TOP2: 20%) say that the increase will have a positive effect, with
(13%) saying it will be somewhat positive, and (6%) saying it will be extremely
third (34%) say the prime increase won’t impact them one way or another and just
over one in ten (12%) say they do not know what impact it will have on their
most likely to say that the increase will have a negative effect include those
aged 35-44 (44%) or 45-54 (44%), earning $60,000-$80,000 (39%),
$80,000-$100,000 (41%), or the most wealthy (39%), supporting the Green Party
(48%), and with a post-graduate degree (41%).
most likely to say that the increase will have a positive effect include those
aged 55-64 (25%) or 65+ (28%), the least wealthy (25%), living in the prairies (MB/SK)
(23%), Alberta (20%), or BC (23%), supporting the Conservatives (20%) or
Liberals (23%), and the least educated (28%).
more expensive for most
than seven in ten (71%) said that, over the last the last three years, Canada
has become more expensive for their family. Fewer than one in ten (5%) said
that Canada has become less expensive for their family, while two in ten (20%)
said that it’s neither more nor less expensive than 3 years ago. A small
proportion (4%) said that they do not know.
most likely to say that Canada has become more expensive for their family
include those aged 45-54 (76%), earning $40,000-$60,000 (78%), $60,000-$80,000
(75%), or the most wealthy (76%), living in Ontario (77%), Alberta (78%), or BC
(79%), supporting the Conservative (81%) or Green (79%) parties, and those with
some college or university (75%).
most likely to say that Canada has become less expensive for their family are
those living in Quebéc (10%) or the prairies (MB/SK) (9%).
“Almost three quarters think Canada has
become more expensive over the last three years, and with more than a third
thinking that the interest rate hike by the Bank of Canada will have a negative
effect on their personal finances, the rumours of another hike to come may only
worsen these concerns,”said Dr. Lorne Bozinoff, President
of Forum Research.
Ph.D. is the president and founder of Forum Research. He can be reached at
firstname.lastname@example.org or at (416) 960-9603.