6/29, 6:03 AM (Source: TeleTrader)
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Risk of recession in US high - former BoE governor

Former Bank of Canada (BOC) and Bank of England (BOE) Governor, Mark Carney, on Wednesday said that the risks of a recession remain high, signaling out the United States as the country with bigger chances of slipping into an economic decline.

"The risk of a recession in the United States and globally is 'uncomfortably high'," said Carney.

The former official also noted that only a mild recession should be expected in the US as the country's economy "doesn't have the same imbalances" it had in its last economic downturn. "This isn't 2008, but it's also not 2001 either," he concluded.

Baha Breaking News (BBN) / NL