CTV News: Former Bank of Canada governor warns on slide toward recession
Former Bank of Canada governor Stephen Poloz warned that Canada and the United States are “not in recession, probably, but sliding in that direction” amid tariffs, geopolitical tensions, and economic uncertainty. He said Canada’s youth unemployment of 14.5% is “quite worrying” and may reflect early impacts of artificial intelligence on entry-level jobs. Despite the slowdown, Poloz noted one bright spot, saying “retail sales have stayed pretty buoyant” due to Canadians vacationing domestically and buying Canadian products.
