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Risk of Canadian recession growing: Carney

The Bank of Canada sees a greater risk of recession in Canada than it did just one month ago as the global financial crisis rips through the economy, Governor Mark Carney said. In a speech in London, Carney repeated that the central bank would likely have to cut its key interest rate further to keep the export-reliant economy afloat in the face of a global recession and what he called a “consumer recession” in the United States, its top trading partner.
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