VOA标准英语2009年-Bank of Japan Hopes Loan Program Lifts

 

Japan's central bank hopes a $115 billion loan program will help boost the country's economy.

Akiko Fujita | Tokyo 02 December 2009

 
Japanese Yen¹

Japan's central bank hopes a 115 billion dollar loan program will help boost the country's economy. The Bank of Japan decided² to issue the loans to fight a rising currency and deflation. But critics say that move is not enough.

Japanese stocks fell Wednesday, a day after the central bank approved a new lending program to boost the country's stagnant³ economy.

The Bank of Japan agreed to loan $115 billion to financial institutions for three months at a rate of 0.1 percent. Initial news of the BOJ's emergency meeting on Tuesday raised hopes of an interest rate cut, and stocks rose immediately after the BOJ's announcement Tuesday. But they quickly fell, as analysts⁴ reacted with disappointment.

Interest rate strategist Christian⁵ Carrillo with Societe Generale Securities calls the BOJ's decision weak and without purpose. He says he expected the bank to buy up more Japanese government bonds when he heard about the emergency meeting - instead, it was what he calls a "mild" response.

"What it appears to be is an attempt to save face with the government, which is asking for help," Carrillo said.

The BOJ has been under intense government pressure to stimulate⁶ the economy since the yen reached a 14-year high last week against the dollar.

The strong yen hurts Japanese exporters struggling to sell goods that are now more expensive in foreign markets.

The government also is fighting deflation - shrinking prices for consumer goods and assets.

Despite that, the BOJ resisted government calls to change its policies and said global economics would drive the domestic market.

 "They talk about a Japanese economy that is improving driven by the improvement of the global economy," Carrillo said. "Therefore is a gap on the understanding of what each should do."

BOJ officials deny reports that public pressure affected⁷ his decision but government spokesman Hirofumi Hirano welcomed the change.

He says the bank reacted appropriately and swiftly to the changes in the economy.

Prime Minister Yukio Hatoyama has expressed support for the bank's decision. He is meeting with the BOJ governor on Wednesday. Mr. Hatoyama's government has already proposed an additional 31 billion dollar stimulus⁸ package to bolster⁹ employment and economic growth.

But Carrillo says the stimulus plan and the BOJ loans will not be enough to bring the country's economy back. He says the BOJ should buy up more government bonds and cut interest rates further, and he hopes the changes will come when the bank holds a policy meeting in a few weeks.

 

1 yen   

n. 日元；热望

参考例句：

• He wanted to convert his dollars into Japanese yen.他想将美元换成日币。
• He has a yen to be alone in a boat.他渴望独自呆在一条船上。

2 decided   

adj.决定了的，坚决的；明显的，明确的

参考例句：

• This gave them a decided advantage over their opponents.这使他们比对手具有明显的优势。
• There is a decided difference between British and Chinese way of greeting.英国人和中国人打招呼的方式有很明显的区别。

3 stagnant   

adj.不流动的，停滞的，不景气的

参考例句：

• Due to low investment,industrial output has remained stagnant.由于投资少，工业生产一直停滞不前。
• Their national economy is stagnant.他们的国家经济停滞不前。

4 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。

5 Christian   

adj.基督教徒的；n.基督教徒

参考例句：

• They always addressed each other by their Christian name.他们总是以教名互相称呼。
• His mother is a sincere Christian.他母亲是个虔诚的基督教徒。

6 stimulate   

vt.刺激，使兴奋；激励，使…振奋

参考例句：

• Your encouragement will stimulate me to further efforts.你的鼓励会激发我进一步努力。
• Success will stimulate the people for fresh efforts.成功能鼓舞人们去作新的努力。

7 affected   

adj.不自然的，假装的

参考例句：

• She showed an affected interest in our subject.她假装对我们的课题感到兴趣。
• His manners are affected.他的态度不自然。

8 stimulus   

n.刺激，刺激物，促进因素，引起兴奋的事物

参考例句：

• Regard each failure as a stimulus to further efforts.把每次失利看成对进一步努力的激励。
• Light is a stimulus to growth in plants.光是促进植物生长的一个因素。

9 bolster   

n.枕垫；v.支持，鼓励

参考例句：

• The high interest rates helped to bolster up the economy.高利率使经济更稳健。
• He tried to bolster up their morale.他尽力鼓舞他们的士气。