voa标准英语2008-Major European Interest Rate Cuts Fail to Rally

Continued economic weakness has led to another round of interest rate cuts in Europe, while the number of Americans receiving unemployment benefits has reached a 26-year high.
　

A broker1 is seen under the curve of the German stock index DAX at the stock market in Frankfurt, central Germany, 04 Dec 2008

For the third time in as many months, the European Central Bank has slashed² interest rates - this time by three-quarters of a percent, the largest cut in the currency bloc's 10-year history. Central banks in Britain and Sweden cut interest rates even more aggressively.

ECB President Jean-Claude Trichet says Europe's anemic economic performance has greatly reduced any risk that lower interest rates will kindle³ inflation.

"There is increased evidence that inflationary pressures are diminishing further," he said. "The decline in inflation rates is due mainly to the fall in commodity prices and the significant slowdown in economic activity largely related to the global effects of the financial turmoil⁴."

In the United States, new claims for unemployment benefits moderated slightly last week, but still remain at levels indicative of a contracting labor⁵ market. Overall, more than four million Americans are receiving unemployment benefits, the largest number since 1982.

Massive job cuts are no longer limited to America's battered⁶ financial sector⁷, according to Deutsche Bank's chief U.S. economist⁸, Joseph Lavorgna.

"The U.S. economy and, to a larger extent, the global economy just completely shut down," he said. "And companies are freezing all of their hiring, and in many cases laying workers off because demand [for their products] has completely collapsed⁹."

The Commerce Department provided further evidence of reduced demand for goods, reporting a 5.1 percent decline in U.S. factory orders for October, the biggest drop in eight years.
　

Customer shops at electronic store in New York city, 21 Nov 2008

In addition, with the exception of bargain outlets¹⁰, U.S. retailers¹² are reporting weak sales figures for November.

"Rising food prices and the fear about losing your savings¹³, losing your job, has all kicked in [intensified], and people are learning how to just say 'no' [to non-essential purchases]. December sales will be miserable," said retail¹¹ analyst¹⁴ Candace Corlett.

Many economists¹⁵ trace the economic slowdown to a credit crunch¹⁶ sparked by a wave of home foreclosures and mortgage defaults in the United States. To help spur lending, resuscitate¹⁷ America's moribund¹⁸ housing sector, and boost the economy as a whole, the Federal Reserve has aggressively cut interest rates during the past year.
　

A sale sign sits in front of a home in the Shaker Heights section of Cleveland, Ohio (File)

Yet, with interest rates already at historically-low levels and no evidence of a pick-up in the housing market, the Treasury¹⁹ Department is reportedly crafting new, creative means to force mortgage rates even lower. Under one option, the federal government would invest in securities that finance loans for home purchases, stipulating²⁰ a significantly reduced interest rate.

The plan appeals to financial analyst Greg McBride.

"Lower mortgage rates are designed to put more buying power in the pockets of prospective²¹ home buyers," he said. "That helps anybody who is trying to buy a house, but it also helps people who are trying to sell them."

But analysts²² point out the idea would do nothing to lower mortgage payments for existing homeowners who are in danger of default.

1 broker   

n.中间人，经纪人；v.作为中间人来安排

参考例句：

• He baited the broker by promises of higher commissions.他答应给更高的佣金来引诱那位经纪人。
• I'm a real estate broker.我是不动产经纪人。

2 slashed   

v.挥砍( slash的过去式和过去分词 )；鞭打；割破；削减

参考例句：

• Someone had slashed the tyres on my car. 有人把我的汽车轮胎割破了。
• He slashed the bark off the tree with his knife. 他用刀把树皮从树上砍下。 来自《简明英汉词典》

3 kindle   

v.点燃，着火

参考例句：

• This wood is too wet to kindle.这木柴太湿点不着。
• A small spark was enough to kindle Lily's imagination.一星光花足以点燃莉丽的全部想象力。

4 turmoil   

n.骚乱，混乱，动乱

参考例句：

• His mind was in such a turmoil that he couldn't get to sleep.内心的纷扰使他无法入睡。
• The robbery put the village in a turmoil.抢劫使全村陷入混乱。

5 labor   

n.劳动，努力，工作，劳工；分娩；vi.劳动，努力，苦干；vt.详细分析；麻烦

参考例句：

• We are never late in satisfying him for his labor.我们从不延误付给他劳动报酬。
• He was completely spent after two weeks of hard labor.艰苦劳动两周后，他已经疲惫不堪了。

6 battered   

adj.磨损的；v.连续猛击；磨损

参考例句：

• He drove up in a battered old car.他开着一辆又老又破的旧车。
• The world was brutally battered but it survived.这个世界遭受了惨重的创伤,但它还是生存下来了。

7 sector   

n.部门，部分；防御地段，防区；扇形

参考例句：

• The export sector will aid the economic recovery. 出口产业将促进经济复苏。
• The enemy have attacked the British sector.敌人已进攻英国防区。

8 economist   

n.经济学家，经济专家，节俭的人

参考例句：

• He cast a professional economist's eyes on the problem.他以经济学行家的眼光审视这个问题。
• He's an economist who thinks he knows all the answers.他是个经济学家，自以为什么都懂。

9 collapsed   

adj.倒塌的

参考例句：

• Jack collapsed in agony on the floor. 杰克十分痛苦地瘫倒在地板上。
• The roof collapsed under the weight of snow. 房顶在雪的重压下突然坍塌下来。

10 outlets   

n.出口( outlet的名词复数 )；经销店；插座；廉价经销店

参考例句：

• The dumping of foreign cotton blocked outlets for locally grown cotton. 外国棉花的倾销阻滞了当地生产的棉花的销路。 来自《简明英汉词典》
• They must find outlets for their products. 他们必须为自己的产品寻找出路。 来自《现代汉英综合大词典》

11 retail   

v./n.零售；adv.以零售价格

参考例句：

• In this shop they retail tobacco and sweets.这家铺子零售香烟和糖果。
• These shoes retail at 10 yuan a pair.这些鞋子零卖10元一双。

12 retailers   

零售商，零售店( retailer的名词复数 )

参考例句：

• High street retailers reported a marked increase in sales before Christmas. 商业街的零售商报告说圣诞节前销售量显著提高。
• Retailers have a statutory duty to provide goods suitable for their purpose. 零售商有为他们提供符合要求的货品的法定义务。

13 savings   

n.存款，储蓄

参考例句：

• I can't afford the vacation,for it would eat up my savings.我度不起假，那样会把我的积蓄用光的。
• By this time he had used up all his savings.到这时，他的存款已全部用完。

14 analyst   

n.分析家，化验员；心理分析学家

参考例句：

• What can you contribute to the position of a market analyst?你有什么技能可有助于市场分析员的职务？
• The analyst is required to interpolate values between standards.分析人员需要在这些标准中插入一些值。

15 economists   

n.经济学家，经济专家( economist的名词复数 )

参考例句：

• The sudden rise in share prices has confounded economists. 股价的突然上涨使经济学家大惑不解。
• Foreign bankers and economists cautiously welcomed the minister's initiative. 外国银行家和经济学家对部长的倡议反应谨慎。 来自《简明英汉词典》

16 crunch   

n.关键时刻；艰难局面；v.发出碎裂声

参考例句：

• If it comes to the crunch they'll support us.关键时刻他们是会支持我们的。
• People who crunch nuts at the movies can be very annoying.看电影时嘎吱作声地嚼干果的人会使人十分讨厌。

17 resuscitate   

v.使复活，使苏醒

参考例句：

• A policeman and then a paramedic tried to resuscitate her.一名警察和一位护理人员先后试图救活她。
• As instructed by Rinpoche,we got the doctors to resuscitate him.遵照仁波切的指示，我们找来医生帮他进行急救。

18 moribund   

adj.即将结束的，垂死的

参考例句：

• The moribund Post Office Advisory Board was replaced.这个不起作用的邮局顾问委员会已被替换。
• Imperialism is monopolistic,parasitic and moribund capitalism.帝国主义是垄断的、寄生的、垂死的资本主义。

19 treasury   

n.宝库；国库，金库；文库

参考例句：

• The Treasury was opposed in principle to the proposals.财政部原则上反对这些提案。
• This book is a treasury of useful information.这本书是有价值的信息宝库。

20 stipulating   

v.（尤指在协议或建议中）规定，约定，讲明（条件等）( stipulate的现在分词 )；规定，明确要求

参考例句：

• Shall we first sign a barter trade agreement stipulating the general terms and conditions? 我们先签一个易货贸易协议，规定一般性条款，行吗？ 来自互联网
• The other firm are stipulating for and early exchange of information regarding the contract. 作为协议条件，另一家公司坚持要求早日交换有关合同的信息。 来自互联网

21 prospective   

adj.预期的，未来的，前瞻性的

参考例句：

• The story should act as a warning to other prospective buyers.这篇报道应该对其他潜在的购买者起到警示作用。
• They have all these great activities for prospective freshmen.这会举办各种各样的活动来招待未来的新人。

22 analysts   

分析家，化验员( analyst的名词复数 )

参考例句：

• City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
• I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。