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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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Carney Heads to China Seeking Trade Reset and Diplomatic Breakthrough

 

Prime Minister Mark Carney, right, and Chinese President Xi Jinping met in Gyeongju, South Korea, on Oct. 31, 2025.


Prime Minister Mark Carney is preparing for a closely watched visit to China aimed at stabilizing a relationship that has endured years of tension. The trip marks a significant moment in Canada’s effort to rebuild trust with Beijing and revive economic cooperation that has stalled amid political disputes and shifting global alliances.

During his meetings with senior Chinese leaders, Carney is expected to push for progress on long‑standing trade barriers, including improved market access for Canadian agricultural and energy products. Officials describe the mission as an attempt to “reset” the tone of bilateral engagement and explore new areas of collaboration in sectors such as clean technology and critical minerals.

The visit also reflects Canada’s broader strategy to diversify its economic partnerships at a time when global trade patterns are becoming more uncertain. With China remaining a major trading partner despite recent frictions, even modest breakthroughs could provide meaningful benefits for Canadian exporters.

While expectations remain measured, the trip is widely viewed as an important step toward rebuilding a more predictable and constructive relationship — one that could shape Canada’s economic landscape for years to come.


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