Rate cuts and a return to growth: What Deloitte sees on the Canadian economic horizon

Deloitte Canada has recently released its economic outlook for the country and predicts that the Canadian economy will return to growth in the second half of 2024. This is a positive sign for the country, as it indicates that the economy is recovering from the negative impacts of the COVID-19 pandemic.

One of the factors contributing to this recovery is the possibility of interest rate cuts. Deloitte Canada predicts that interest rate cuts could be implemented as early as this spring. This would make borrowing more affordable for businesses and individuals, which could stimulate spending and investment, leading to economic growth.

It's important to note that while the Canadian economy is showing signs of recovery, there are still many uncertainties and challenges ahead. The ongoing pandemic continues to impact the global economy, and there are concerns about inflation, supply chain disruptions, and geopolitical tensions. However, Deloitte Canada's outlook suggests that with the right policies and actions, the Canadian economy can continue on a path towards growth and prosperity in the coming years.