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Getting Kids Ready for Back to School: Tips for a Smooth Transition

As summer winds down, the excitement and anticipation of a new school year begin to build. Preparing your kids for back to school can be a fun and rewarding experience with a bit of planning and organization. Here are some tips to help ensure a smooth transition: 1. Establish a Routine Start adjusting your child’s sleep schedule a week or two before school begins. Gradually move bedtime earlier and wake them up closer to the time they’ll need to get up for school. This helps their bodies adjust and makes the first week back less of a shock. 2. Organize School Supplies Make a list of necessary school supplies and involve your child in the shopping process. Letting them choose their notebooks, pens, and backpacks can make them more excited about the new school year. Don’t forget to label everything with their name! 3. Create a Study Space Set up a dedicated, clutter-free area for homework and studying. Ensure it’s well-lit and stocked with all the supplies they might need. Having a speci
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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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