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锘?!DOCTYPE html PUBliC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"><html xmlns="http://www.w3.org/1999/xhtml"><head><title>Interest Rate Cuts, Job Losses Hit European Markets - VOA Standard English In 2008</title><meta http-equiv="Content-Type" content="text/html; charset=utf-8" /><meta content="all" name="robots"/><meta content="VOA Standard English In 2008, Interest Rate Cuts, Job Losses Hit European Markets" name="description" /><meta content="VOA Standard English In 2008" name="keywords" /><link rel="stylesheet" type="text/css" href="/images/style.css" /><link rel="stylesheet" type="text/css" href="/images/text-small.css" title="Small Text" /><link rel="alternate stylesheet" type="text/css" href="/images/text-medium.css" title="Medium Text" /><link rel="alternate stylesheet" type="text/css" href="/images/text-large.css" title="Large Text" /></head><body><div><img id="logo" src="/images/voa.gif" alt="VOA" /></div><div id="nav"><a title="VOA" href="http://www.51voa.com/"><b>缇庡浗涔嬮煶</b></a> > <a href="http://www.51voa.com/VOA_Standard_English/index.html">VOA Standard English</a> > <a href="http://www.51voa.com/VOA_Standard_1.html">VOA Standard English In 2008</a> <script type="text/javascript" src="/images/notice.js"></script></div><div id="leftMainContainer"><div id="leftNav"><div class="leftN_title">VOA Standard English</div><ul><li><a href="/VOA_Standard_1.html">VOA Standard English <img src=/images/new.gif border=0></a></li> <li><a href="/VOA_Standard_1_archiver.html">VOA Standard English Archives </a></li> </ul><div class="leftN_title">VOA Special English</div><ul><li><a href="/Development_Report_1.html">Development Report</a></li><li><a href="/This_is_America_1.html">This is America</a></li><li><a href="/Agriculture_Report_1.html">Agriculture Report</a></li><li><a href="/Science_in_the_News_1.html">Science in the News</a></li><li><a href="/Health_Report_1.html">Health Report</a></li><li><a href="/Explorations_1.html">Explorations</a></li><li><a href="/Education_Report_1.html">Education Report</a></li><li><a href="/The_Making_of_a_Nation_1.html">The Making of a Nation</a></li><li><a href="/Economics_Report_1.html">Economics Report</a></li><li><a href="/American_Mosaic_1.html">American Mosaic</a></li><li><a href="/In_the_News_1.html">In the News</a></li><li><a href="/American_Stories_1.html">American Stories</a></li><li><a href="/Words_And_Their_Stories_1.html">Words And Their Stories</a></li><li><a href="/People_in_America_1.html">People in America</a></li></ul><div class="leftN_title">VOA English Learning</div><ul><li><a href="/Word_Master_1.html">Wordmaster</a></li><li><a href="/Learn_A_Word_1.html">Learn A Word</a></li><li><a href="/Bilingual_News_1.html">Bilingual News</a></li><li><a href="/American_Cafe_1.html">American Cafe</a></li><li><a href="/Popular_American_1.html">Popular American</a></li><li><a href="/Business_Etiquette_1.html">Business Etiquette</a></li><li><a href="/Sports_English_1.html">Sports English</a></li><li><a href="/Words_And_Idioms_1.html">Words And Idioms</a></li><li><a href="/Intermediate_American_English_1.html">Intermediate American English</a></li></ul></div><div id="rightContainer"><span class="title">Interest Rate Cuts, Job Losses Hit European Markets</span><div id="contentAds"><script type="text/javascript"><!--google_ad_client = "pub-3585518775245612";/* 51VOAContent */google_ad_slot = "4281465902";google_ad_width = 336;google_ad_height = 280;//--></script><script type="text/javascript"src="http://pagead2.googlesyndication.com/pagead/show_ads.js"></script></div><span id="content"><EMBED src="/path.asp?url=/200812/rivers_euro_markets_04dec08mpg.mp3" width=280 height=40 type="audio/x-pn-realaudio-plugin" autostart="false" Controls="ControlPanel" tppabs=""></EMBED><BR><a href="/path.asp?url=/200812/rivers_euro_markets_04dec08mpg.mp3" class="wwmp3">» Download Audio</a><BR><BR><span class="byline"> By Tom Rivers</span> <br> <span class="dateline">London</span><br> <span class="datetime"><em>04 December 2008</em></span><br><p>It is another nervous day on the trading floors in Europe as various European banks dropped interest rates again. The move is designed to address fears that Europe could get caught up in a deep and difficult recession, spanning all of 2009.<br><br><table class="APIMAGE" style="direction: ltr;" align="right" width="190"><tbody><tr><td style=""><img id="||CPIMAGE:585441|" alt="President of the European Central Bank, ECB, Jean-Claude Trichet" title="President of the European Central Bank, ECB, Jean-Claude Trichet" src="/images/200812/AP-European-Central-Bank-Pres-Trichet-190.jpg" border="0" height="141" hspace="2" vspace="2" width="190"></td></tr><tr><td style="" class="imagecaption">President of the European Central Bank, ECB, Jean-Claude Trichet</td></tr></tbody></table>The European Central Bank cut interest rates by 0.75 percent - its biggest ever move and its third cut in two months.<br><br>Recent economic data in the 15-nation Eurozone has been grim and many European countries have been calling for this latest drop.<br><br>Elsewhere in Europe, even stronger medicine was administered. The Swedish Central Bank cut rates by 1.75 points - a record there. In London, the Bank of England dropped rates one percent to a level not seen since 1951.<br><br>Economist George Johns from Barclays Capital says the move has not come as a surprise to those in London's financial district.<br><br>"The city was expecting something in the region of a percentage point cut," he said. "That is what we got. I think looking ahead, we are going to see more decisive action from the bank and I would see rates falling perhaps another percentage point over the coming months to a one-percentage trough."<br><br>As is the case elsewhere in Europe, the British economy is stagnant and real estate, in particular, is taking a big hit. Throughout Britain, home foreclosures are increasing and mortgage lending is down a massive 70 percent from one year ago. <br><br>Michael Coogan from the Council of Mortgage Lenders says the hope is most of this latest cut will be passed on to help get the property market moving again, but as he points out, there is also a downside for savers.<br><br>"I think where lenders can pass it on to borrowers they will," he said. "But actually the moral obligation to the very many savers who rely on investment income, charities similarly, they are going to want their savings rate to be kept up. And indeed for economic purposes, we want savings rates to be kept up to encourage savings because it is the savings money that can be lent out next year."<br><br>Beside the interest rate drops, the markets here were again influenced by a series of job cuts.<br><br>Banking giant Credit Suisse announced it is eliminating another 5,300 jobs after revealing a net loss of $2.5 billion in October and November.<br><br>In London, the Japanese financial group Nomura says it will cut up to 1,000 jobs in its British operation. Earlier this year, Nomura bought parts of the failed U.S. bank, Lehman Brothers. <br><br></p> </span><div id="list"><ol><LI><A href="VOA_Standard_English_26808.html" target=_blank>Israeli Soldiers Drag Jewish Settlers From House in Hebron</A></LI><LI><A href="VOA_Standard_English_26807.html" target=_blank>South Africa Gets 'Negative' Economic Rating</A></LI><LI><A href="VOA_Standard_English_26806.html" target=_blank>Zimbabwe Declares National Cholera Emergency</A></LI><LI><A href="VOA_Standard_English_26805.html" target=_blank>US Auto Companies Appeal to Congress for Help</A></LI><LI><A href="VOA_Standard_English_26804.html" target=_blank>Major European Interest Rate Cuts Fail to Rally World Markets</A></LI><LI><A href="VOA_Standard_English_26803.html" target=_blank>US 'Very Concerned' About Zimbabwe Cholera Emergency</A></LI><LI><A href="VOA_Standard_English_26802.html" target=_blank>Resurgent Russia Poses Challenge for Obama Administration</A></LI><LI><A href="VOA_Standard_English_26801.html" target=_blank>UN Security Council Has 'Cautious Optimism' for Afghanistan's Future</A></LI><LI><A href="VOA_Standard_English_26800.html" target=_blank>Measles Deaths Worldwide Fall by 74 Percent</A></LI><LI><A href="VOA_Standard_English_26799.html" target=_blank>Rice Says Pakistan Committed to Mumbai Investigation</A></LI></ol></div><div class="clearing"></div></div><div class="clearing"></div><div id="footer">© 2001-2008 Powered by <a href="http://www.51voa.com">51VOA.Com</a> <div id="topAds"><script language=javascript src="/topAds.js"></script></div> <div id="count"><script language=javascript src="/count.js"></script></div></div></body></html>⌨️ 快捷键说明
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