Bank of Canada: recovery depends on U.S. bank plan

Tue Feb 10, 2009 5:37pm EST
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OTTAWA (Reuters) - Canada's economic recovery could be delayed or weakened if plans by the United States and other countries plans to stabilize their financial systems do not succeed, Bank of Canada Governor Mark Carney said on Tuesday.

"If that stabilization doesn't come in the first half of this year, that recovery will be delayed and it will be weaker," Carney told CBC television.

Carney also said he expects a full and frank discussion of global recovery plans at a meeting of G7 finance ministers and central bankers in Rome on Feb 13-14.

(Reporting by Louise Egan; editing by Rob Wilson)