VOA标准英语2008年-India's Central Bank Hikes Interest Rates to Co

India's Central bank has hiked interest rates in a bid to tackle inflation which is at its highest rate in over a decade. But as Anjana Pasricha reports from New Delhi, there are fears the measure will slowdown growth in one of the world's fastest growing economies.

The latest hike of half a percentage point in interest rates announced Tuesday by the Central Bank came as no surprise.

The Central Bank has been steadily¹ raising interest rates in recent months in a bid to discourage people from borrowing money, and cool consumer demand. The Bank's lending rate will now be nine percent.

The government hopes this will help lower inflation, which is running at nearly 12 percent - the highest in 13 years.

The inflation is worrisome for policymakers in a country where, despite high economic growth, 500 million people live on less than $2 a day. These people have been hit hard by the runaway² food and fuel prices in the past year.

The government, which faces elections in several big states later this year, and general elections next year, says bringing down prices is a priority.

The deputy Managing Director of India's largest bank, ICICI, Chanda Kochar, says raising interest rates will bring down inflation in the months to come.

"Inflation will, with all these measures, expected to be brought down to seven percent
by March [20]09. To achieve that if we have to, as an economy, go through some amount of pain, we have to accept it and move forward," he said.

But the steady increase in interest rates in the past year is expected to dampen economic growth. The Indian economy grew at nine percent last year - the second highest in the
world after China. But the Central Bank forecasts that growth this year may slow down to eight percent.

Industries say they have to postpone³ expansion plans as borrowing becomes more expensive. They are also worried that slowing consumer demand will mean lower profits.

Worries about a slowing economy are impacting stock markets. The Bombay stock index, the Sensex, plunged⁴ by 557 points - more than four percent after the latest interest hike was announced on Tuesday.

 

 

1 steadily   

adv.稳定地；不变地；持续地

参考例句：

• The scope of man's use of natural resources will steadily grow.人类利用自然资源的广度将日益扩大。
• Our educational reform was steadily led onto the correct path.我们的教学改革慢慢上轨道了。

2 runaway   

n.逃走的人，逃亡，亡命者；adj.逃亡的，逃走的

参考例句：

• The police have not found the runaway to date.警察迄今没抓到逃犯。
• He was praised for bringing up the runaway horse.他勒住了脱缰之马受到了表扬。

3 postpone   

v.延期，推迟

参考例句：

• I shall postpone making a decision till I learn full particulars.在未获悉详情之前我得从缓作出决定。
• She decided to postpone the converastion for that evening.她决定当天晚上把谈话搁一搁。

4 plunged   

v.颠簸( plunge的过去式和过去分词 )；暴跌；骤降；突降

参考例句：

• The train derailed and plunged into the river. 火车脱轨栽进了河里。
• She lost her balance and plunged 100 feet to her death. 她没有站稳，从100英尺的高处跌下摔死了。