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How Will Interest Rates Impact 2024 Business Planning?

Interest rates and inflation have been central topics of discussion throughout 2023. After years of historically low-interest rates, the sudden adjustment to rising rates, combined with uncertainty regarding the economic impacts of those increases, has made it a challenging year for some businesses to navigate.

It’s too soon to predict exactly how interest rates will play out in 2024, so businesses planning for the coming year should consider the possible impacts of various scenarios and prepare a strategy accordingly.

The past decade has provided an unusual stretch of steady, low-interest rates, which may make it challenging for some businesses to adjust their planning to include the uncertainty of fluctuating rates. A skilled business banker can help strategize and find solutions to navigate times of change, keeping the business on track to achieve its long-term goals.