Bank of Canada sees less need for unorthodox steps

OTTAWA May 19 (Reuters) - Canada has less need to print money and use other unconventional measures to boost its economy than some other countries, the Bank of Canada said on Tuesday, hammering home its message that it has already done enough to combat the recession.

"Canada has not been subject to many of the imbalances and vulnerabilities that have affected other countries, and has had less need for unconventional measures," Deputy Governor John Murray said in the prepared text of a speech he was delivering in Philadelphia.

Murray also said the risks of an inflationary spiral or deflationary collapse have been "greatly exaggerated," and that the Canadian central bank's success with inflation targeting would facilitate an exit strategy if it did choose unconventional policies such as expanding the money supply to buy market securities.

For the full text of the speech click on:here (Reporting by Louise Egan; Editing by Jeffrey Hodgson)