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1 in 4 Canadians Can Only Afford the Minimum Payment on Their Credit Card

  Published August 24, 2026 · Canadian Money Brief A new survey from Equifax Canada puts a hard number on something a lot of us have felt creeping up all year: credit cards are doing more of the heavy lifting in Canadian budgets, and fewer people are paying them off. Of more than 1,500 Canadians surveyed, a quarter said they expect to make only the minimum monthly payment on their credit card, and another 7% think they'll fall behind entirely. That leaves just over half — 56% — who expect to pay their balance in full each month. The survey also found that 40% of respondents are spending more overall than they were a year ago, more than double the 18% who say they're spending less. Nearly 3 in 10 said they're leaning more heavily on credit cards to cover essentials like groceries and utilities, and close to a quarter are dipping into savings to keep up with everyday costs. More than a third have cut back on contributions to savings, investments, or education funds to make ro...
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Markets Waver Despite Trump-Xi Trade Truce as Big Tech Earnings Loom

 


U.S. stock futures faltered Thursday morning as Wall Street digested a limited trade truce between President Donald Trump and Chinese President Xi Jinping, while bracing for a wave of Big Tech earnings and mixed signals from the Federal Reserve.

Market Snapshot:

  • Dow Jones Industrial Average futures slipped 0.2%
  • S&P 500 and Nasdaq 100 futures hovered near flat
  • Meta shares dropped 8% in premarket trading
  • Bitcoin fell below $108,000

The Trump-Xi summit in Busan yielded a one-year trade détente: the U.S. agreed to halve tariffs on fentanyl-related imports from China, while Beijing pledged to resume purchases of American soybeans and energy products and ease restrictions on rare earth exports. However, the deal lacked the sweeping breakthroughs investors had hoped for, leading to muted market enthusiasm.

Adding to the uncertainty, Federal Reserve Chair Jerome Powell signaled that another interest rate cut in December is “not a foregone conclusion,” despite the central bank’s recent quarter-point reduction. His comments exposed divisions among policymakers and cooled expectations for further monetary easing.

Meanwhile, investors are closely watching earnings reports from tech giants including Apple and Amazon, which are expected to provide critical insight into the sector’s resilience amid global economic headwinds.

With geopolitical developments and monetary policy in flux, markets appear to be in a holding pattern—waiting for stronger catalysts to define the next move.


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