Bank of Canada warns long road to economic recovery remains

TORONTO, Ont. – The Bank of Canada has warned that the recession may be over, but it remains a long road back to a strong economy.

The bank’s governor, Mark Carney, said Canada’s relatively strong bounce back has been supported by housing expansion and personal consumption. Neither factor can continue long term.

Carney added that the world continues to face a restructuring that could take 10 years and subdue growth in advanced economies.

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