BOC's Rogers: Canadians are feeling some pressure as they adjust to higher rates

<ul><li>It's easy to see a world where rates are persistently higher</li><li>It's important for people and businesses to adjust to a potentially higher-rate environment</li><li>Adjusting early and bit by bit lowers the risk of abrupt steps later</li><li>Adjustment to higher rates is well underway globally, there is less wiggle room for the global financial sector in the event of a shock</li><li>Canadians are adjusting as the y feel some pressure and juggle effects of inflation and higher rates</li><li>Data suggest most Canadian businesses can service existing debt as servicing costs rise and revenue growth slows</li><li>Bank is watching high levels of fixed-payment mortgage debt, given that 60% of mortgages holders must renew by end-2026</li><li>Most mortgage holders still expect they can deal with higher payments when they renew</li></ul><p>No doubt the BOC is keeping a close eye on Canadian housing and mortgages.</p>

This article was written by Adam Button at www.forexlive.com.