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Posted AT 4:48 PM EST on 30/04/08

Carney seeks wider powers for Bank of Canada

KEVIN CARMICHAEL

Globe and Mail Update

OTTAWA — Bank of Canada Governor Mark Carney asked parliamentarians to give him the power to take more assets onto the central bank's books to help ease strains in financial markets. Mr. Carney, taking questions Wednesday at the House of Commons finance committee, said the central bank lacks the “full modern flexibility” of peers such as the U.S. Federal Reserve and European Central Bank to deal with crises of liquidity.

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