Rate Cuts 2024 Canada Ontario. Inflation has continued cooling for canadians amid mild economic growth for much of 2024, allowing the bank of canada to start easing its benchmark policy rate. The end of the second quarter is where i would expect rates to go down by 25.
With july’s inflation decline toeing the line, we should see cuts at each remaining rate date for 2024, and resume a downward trend through q1 of 2024. Expect prime rate at 6.2% by the end of 2024 and 5.45% by the end of 2025.