Canada’s Banking System Safe, Recession and High Unemployment Still Likely: Experts

Canada’s Banking System Safe, Recession and High Unemployment Still Likely: Experts
The Bank of Canada building in Ottawa on Dec. 6, 2022. The Canadian Press/Sean Kilpatrick
Peter Wilson
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Canada’s bank system is safe from widespread failure, but a recession coupled with high unemployment rates remains likely, expert witnesses told the House of Commons standing committee on finance March 23.

Representatives from BMO and Desjardins Group answered MP questions about U.S. banking volatility and whether Canada’s banking system is in any danger.