IMF says Canada must be wary as U.S. slows

The International Monetary Fund said on Feb. 1, 2001, that Canada was well placed to cope with a slowing U.S. economy, but told its central bank to be ready to cut interest rates if the U.S. slowdown became a dive. In its annual staff assessment of the Canadian economy, the global lender said Canada's central bank had to respond firmly to signs of a slowdown, but there was no need to "respond to every shock" from the United States. "The strong policy framework in place has positioned the real