A recent survey regarding the Bank of Canada's interest rate cuts found little benefit for Canadians, aside from some minor changes.

The MNP Consumer Debt Index, conducted quarterly by Ipsos, also dropped six points from the previous quarter to 85%, indicating an increase in negative perceptions regarding participants' debt situation.

About two-thirds of survey participants say they have a strong need for interest rate cuts, with more than half expressing concern that interest rates may not decrease quickly enough to provide the financial assistance they need.

The central bank cut the benchmark interest rate by a quarter percentage point to 4.75% in June.

Experts predict the possibility of another decrease when they meet on Wednesday to make their next interest rate decision.

The MNP report revealed that 46% of Canadians are just $200 or less away from failing to meet all their financial obligations, while three in ten say they cannot pay their bills and debts.

It is noteworthy that the central bank lowered the benchmark interest rate by a quarter percentage point to 4.75% in June, and economists expect the possibility of another interest rate cut when they meet tomorrow, Wednesday, to make their next decision regarding interest rates.