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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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Standoff Deepens as Iran Rejects U.S. Peace Plan and Oil Markets React

 

              A drone view shows the impact site following Iranian missile barrages near Eshtaol, Israel .                

Iran has sharply rejected recent U.S. peace proposals as unrealistic and excessive, while renewed missile strikes across the region have pushed oil prices higher. The escalating tensions underscore how far both sides remain from a ceasefire, with Iran insisting on its own conditions and the U.S. signaling readiness to intensify pressure. 

Rising Tensions and Diplomatic Deadlock

  • Iranian officials have dismissed U.S. proposals to end the conflict as “unrealistic, illogical, and excessive.”
  • Tehran continues to deny any direct negotiations, despite Washington’s claims of ongoing discussions through intermediaries.
  • Iran maintains its own ceasefire conditions, including guarantees against future attacks and compensation for war damages. 

Military Escalation Across the Region

  • Missile and drone strikes have intensified, with Iran continuing attacks on Israel and Gulf states.
  • The U.S. has warned it may escalate operations if Iran does not engage constructively.
  • The conflict has disrupted critical infrastructure, including energy facilities and transport routes. 

Oil Prices Surge Amid Uncertainty

  • With the Strait of Hormuz effectively shuttered and regional facilities under threat, global oil markets have reacted sharply.
  • Brent crude has hovered around the $100 mark as traders weigh the likelihood of a prolonged conflict.
  • The supply shock has raised concerns about inflation and broader economic instability. 

Outlook

The widening gap between U.S. demands and Iran’s conditions suggests that a diplomatic breakthrough remains distant. As missile strikes continue and energy markets tighten, the geopolitical and economic stakes are rising rapidly.

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