Posted AT 7:35 PM EST on 25/09/08
Carney braces for U.S. recession
OTTAWA — Canada's central bank is bracing for a mild U.S. recession, a shift in outlook that could force policy makers to consider cutting interest rates.
Speaking in Montreal Thursday, Bank of Canada Governor Mark Carney said Wall Street's meltdown is restricting the availability of U.S. mortgages, restraining the housing market's recovery and depressing consumer spending.
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