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More than 40% of Canadians feeling pinch of rising interest rates, up five percentage points

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Higher interest rates are putting the squeeze on 43 per cent of Canadians, a new poll says.File Photo

CALGARY — A new poll suggests a growing proportion of Canadians say they are feeling the effects of higher interest rates.

The quarterly MNP consumer debt index survey says 43 per cent of Canadians say they’re feeling the effects of higher interest rates, up five percentage points from three months ago.

The poll done for insolvency firm MNP also said 51 per cent of respondents fear rising interest rates could impact their ability to repay their debts, while 33 per cent agreed that rising interest rates could possibly push them towards bankruptcy.

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