The couple's combined credit card debt, $ 9,500, will have a 20 per
cent interest rate beginning in February.
Not exact matches
Back in November 1979, six months after Margaret Thatcher became prime minister,
interest rates hit 17 per
cent, the highest since records
began in 1694.
Following nearly a decade of low
interest rates, the Bank of Canada
began increasing its central
rate last July, eventually pushing it to 1.25 per
cent from 0.5 per
cent.
After a slowdown that
began in the second half of last year, most economists are anticipating growth will return to an above 2 - per
cent pace in coming months and continue to put pressure on Bank of Canada Governor Stephen Poloz to raise
interest rates.