Despite three interest rate cuts since June, Canadian consumers still appear to be feeling more stressed than their neighbors in the U.S., where the Federal Reserve has yet to start any reductions in borrowing costs.

In time, lower benchmark interest rates from the Federal Reserve should filter through to credit cards, mortgages, savings and other financial products. But every rate-cutting cycle is different, and the economy’s response can be both long and variable.

The U.S. dollar rose broadly on Thursday, recovering from an earlier tumble in the immediate aftermath of the Federal Reserve's outsized interest rate cut that had been largely priced in by markets.