The Globe and Mail reports in its Friday, Sept. 27, edition that Deloitte Canada foresees an increase in economic growth next year. A Canadian Press dispatch to The Globe reports that Deloitte predicts that the Bank of Canada will reduce its key interest rate to below 3 per cent by mid-2025. The forecast indicates that the central bank's interest rate will drop to 3.75 per cent by the end of this year and reach a neutral rate of 2.75 per cent by mid-next year. The company also expects moderate economic growth due to ongoing soft labour market conditions, particularly as many homeowners are yet to experience higher rates when they refinance their loans. Deloitte Canada economist Dawn Desjardins says, "We do think that we're going to be in for a decent year next year." She says it appears Canada will successfully skirt a recession despite the impact of higher borrowing costs on the economy. She says: "It's hard to argue that the economy is just skating through this period of higher interest rates. But having said that, the overall numbers themselves continue to show the economy is expanding. ... Yes, the labour market has softened, but I don't think we're in any kind of crisis in the labour market at this time."