Economy to Grow Moderately, Rates to Fall Below Three Percent Next Year: Deloitte

Economy to Grow Moderately, Rates to Fall Below Three Percent Next Year: Deloitte
Deloitte signage is pictured in the financial district in Toronto, on Sept. 8, 2023. The Canadian Press/Andrew Lahodynskyj
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Deloitte Canada expects economic growth to pick up next year as it forecasts the Bank of Canada to cut its key interest rate below three percent by mid-2025.

In the company’s fall economic outlook released Thursday, it forecasts the central bank’s interest rate will fall to 3.75 percent by the end of this year and a neutral rate of 2.75 percent by mid next year.