CIBC's annual Financial Priorities poll reveals Canadians' top concern is rising household costs and high-interest rates. While recession fears are high, most respondents feel prepared to handle financial hardships.
CIBC says paying down debt is the top financial priority for Canadians heading into 2025. In its annual Financial Priorities poll, CIBC found Canadians continue to see rising costs for household goods and high interest rates as their biggest financial concerns.CIBC says almost two-thirds of Canadians are worried about the possibility of a recession, however more than half of poll respondents feel they're prepared to weather an unexpected financial hardship.
CIBC says 28 per cent of respondents took on more debt in the past 12 months, with the top reasons being the cost of living, daily expenses outstripping income and financial emergencies. The findings are from an online Ipsos poll conducted for CIBC between Nov. 27 and Dec. 2 using a sample of 1,500 Canadians from an existing Ipsos panel.
ECONOMY DEBT Recession FINANCE CONSUMER BEHAVIOR
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