CIBC's Financial Priorities poll reveals Canadians' top concerns are rising costs and high interest rates, with many worried about a potential recession. Despite these anxieties, a majority feel prepared for financial hardship.
CIBC says paying down debt is the top financial priority for Canadians heading into 2025. A CIBC branch is seen in Montreal, Thursday, April 4, 2019. THE CANADIAN PRESS/Ryan RemiorzIn 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.
FINANCE DEBT RECESSION INTEREST RATES COST OF LIVING
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