Posted AT 10:40 AM EST on 12/06/08
Consumers, banks to feel pinch
OTTAWA — The global credit crunch has not hampered credit growth in Canada, but banks and household finances will likely feel pinched in coming months, the central bank says in a new assessment.
Global credit markets are still under stress, and spreads won't recede much until well into next year, the Bank of Canada said in its twice-yearly Financial System Review, and both the banking system and consumers remain vulnerable.
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