As reported on June 22nd, the latest poll shows that more than two-thirds of Canadians believe the country’s economy is headed for recession as interest rates and inflation soar.
In the survey of more than 1,000 Canadians, 68 percent of respondents believed the country’s economy is in an accelerating recession. In addition, 56 percent of people have been forced to reduce their daily spending due to the rising cost of living due to soaring prices, while food is the biggest spending item to be cut.
At the same time, most respondents are concerned that a recession will cause serious personal financial problems. They also do not believe that the Bank of Canada can raise interest rates to restrain inflation, and believe that the economic collapse is inevitable.
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