Recession in Canada ‘probable’ next year, ex-Bank of Canada governor Mark Carney says

Mark Carney, former head of central banks in both Canada and the U.K., told a Senate committee on Thursday that the economy is likely to fall into a recession sometime next year.

Former Bank of Canada governor Mark Carney told a Senate committee Thursday that Canada is likely headed for a recession amid “difficult economic times,” but backed the Liberal government’s current “fiscal discipline” in tackling high inflation.

More to come.