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Your daily horoscope: January 14, 2025

  HOROSCOPES IF TODAY IS YOUR BIRTHDAY If your current way of working does not seem to be taking you closer to your goals then ditch it completely and start over. New technologies such as artificial intelligence could help you immensely this year, IF you have the intelligence to use them wisely. ARIES (March 21 - April 20): There is a lot of pressure building up in your life at the moment but that’s okay because you thrive on being challenged. When the going gets tough Aries is the first sign to get tough in return and today will be no exception. TAURUS (April 21 - May 21): You may be in two minds about what direction you should be taking but what occurs over the next 24 hours will point the way and all you have to do is follow the lead that the universe gives you. Get past your doubts and get moving. GEMINI (May 22 - June 21): If you start something new today it will take up a lot more time and energy than you expected, so think about it carefully and make sure you will be able to...
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Deloitte Canada predicts rate cuts by Bank of Canada in 2024

 

The Bank of Canada may soon begin to lower its benchmark interest rate, according to a new report by Deloitte Canada.

The consulting firm expects the central bank to start easing rates in the second quarter of 2024, as inflation pressures subside and the economy faces headwinds from higher borrowing costs.

Deloitte Canada forecasts that the overnight target rate will drop to 4.25 per cent by the end of the year, from the current level of 5 per cent.

However, the firm cautions that the Bank of Canada will not return to the ultra-low rates that prevailed before the pandemic, and that interest rates will still have a negative impact on spending and investment decisions in 2024.

The Bank of Canada has raised its key rate five times since the start of the pandemic, in response to surging inflation that reached 7.1 per cent in November 2023.

The central bank has signaled that it is done with hiking rates for now, and that it will monitor the evolution of inflation and economic activity.

Some market participants and economists expect the Bank of Canada to cut rates more aggressively than Deloitte Canada, with some predicting a 150-basis-point reduction by the end of 2024.

Deloitte Canada chief economist Dawn Desjardins said that the Bank of Canada will act cautiously and only cut rates when it is confident that inflation will return to its 2 per cent target.

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