Debt Rescue CEO Neil Roets said the latest increase was another significant
blow for households already under severe financial pressure.
“We at Debt Rescue are particularly concerned about the cumulative
impact on consumers, because this increase comes at a time when
household budgets are already being squeezed by elevated transport,
housing, utilities and other essential living costs,” Roets said.
Roets added that for many households, even a relatively small increase in
borrowing costs can have a meaningful impact because there is little
room left in monthly budgets to absorb additional expenses.
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