首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
外语
The European Central Bank left its main interest rate unchanged Wednesday, choosing to put the onus on political leaders to addr
The European Central Bank left its main interest rate unchanged Wednesday, choosing to put the onus on political leaders to addr
admin
2011-08-28
106
问题
The European Central Bank left its main interest rate unchanged Wednesday, choosing to put the onus on political leaders to address increasingly dangerous tension in the euro zone.
Noting the stress in Europe and signs of flagging economic growth, the central bank promised to continue providing banks with effectively unlimited low-interest loans at least through the end of the year.
While most analysts had not expected the central bank to cut rates at its monthly meeting on Wednesday, there was growing speculation that the governing council might cut below 1 percent for the first time in an attempt to restore confidence in the euro zone.
The bank and its president, Mario Draghi, appear to have decided to wait at least another month in order to discourage complacency by political leaders. Mr. Draghi and other top central bank officials have repeatedly stressed that they lack the tools and the mandate to address the underlying problems in the euro zone.
Mr. Draghi said the central bank had no "silver bullets" for what he acknowledged was a worrying situation.
"Some of these problems in the euro area have nothing to do with monetary policy," Mr. Draghi said at a news conference after the monthly meeting of the bank’s governors. "I don’t think it would be right for monetary policy to fill other institutions’ lack of action."
In a statement, Mr. Draghi noted "increased downside risks to the economic outlook" and said that, judging by futures prices for commodities, annual inflation rates should fall below 2 percent again in early 2013.
By keeping its firepower in reserve for now, the central bank put pressure on political leaders to weave the euro zone more closely together, for example by sharing the cost of bank bailouts and giving up more control over government spending.
The central bank may also be concerned that earlier measures intended to calm tensions in the banking system have had unwanted side effects. For example, Spanish banks used inexpensive central bank credit to buy Spanish government bonds. That helped lower the government’s borrowing costs but also made Spanish banks vulnerable to the fortunes of their hard-pressed government.
While few analysts expected the central bank to cut rates, many still expect a cut in coming months. Mr. Draghi said that a few of the 23 members of the bank’s governing council had argued for a rate cut and left open the option of a cut later on. "We will stand ready to act," he said.
Many analysts said the effect of a cut would be mostly psychological because short-term interest rates are already close to zero.
In an attempt to reassure financial markets, the central bank pledged to continue providing banks with low-interest credit, but stopped well short of promising another blast of cheap, three-year loans like the ones it offered in December and March.
At the news conference, Mr. Draghi seemed to be groping to appear neither alarmist nor complacent. He said the current level of tension was not as bad as it was last fall, or at the end of 2008 after the collapse of the investment bank Lehman Brothers.
He said Europe should not take all the blame for slow economic growth in the United States or other parts of the world. But he also described the interbank lending market, which is crucial to the functioning of the financial system, as "dysfunctional," and acknowledged anxiety among investors.
On Wednesday, the European Commission announced a plan for more coordinated oversight of large banks, in part to prevent problems at one institution from spreading. The plan would shift the cost of bailouts to the banking industry and bondholders, though the measures will not be in place in time to help Spain deal with Bankia.
Political leaders seem to be responding to Mr. Draghi’s call last month for a "bold leap" toward a more cohesive euro zone. But by keeping rates unchanged, the central bank appeared to be signaling that it would like to see concrete steps, not proclamations or statements of good intent.
"From the E.C.B. perspective, there is likely to be frustration at euro area governments’ seeming inability to deploy the collective mechanisms they developed," analysts at Barclays said in a note to clients Wednesday. "The E.C.B.’s inaction so far seems to reflect an attempt to put greater pressure on governments to address fiscal and banking issues."
From The New York Times, June 7, 2012
What’s the plan announced on Wednesday by the European Commission for?
选项
A、For helping Spain deal with Bankia.
B、For shifting the cost of bailouts to the banking industry and bondholders.
C、For more coordinated supervision of large banks.
D、For spreading problems at one institution.
答案
C
解析
本题为细节题。倒数第三段On Wednesday,the European Commission announced a plan for more coordinated oversight of large banks中的oversight与选项C中supervision是近义词,故选C;A项错误,因为though the measures will not be in place in time to help Spain deal with Bankia。B项是这个计划的措施,不是目的;D项错误,这一计划是为了防止机构内部问题。
转载请注明原文地址:https://www.kaotiyun.com/show/0vYO777K
0
专业英语八级
相关试题推荐
EconomicconditionshaveimprovedduringthepastdecadeinmanyNorthAmericanandEuropeanCBDs,primarilybecauseofanunpre
MassMediaInthelast75years,suchtechnologicalinnovationsasradio,motionpictures,andtelevisionhavebecomeimporta
Zambia’scopperindustry,whichonlylastyearstillboastedarosyfuture,seemstobestaggeringtowardsarathergloomierend
Americancultureisdefinedbyrathergradualmovementsfromonestageofsocializationtothenext.Thelifelongsocialization
LibraryLookingupmaterialforaresearchpaperinalibraryshouldbeginwiththemain【1】______.Youcanfindcardsbearing
A、callonthemtostopwhathecalledU.S.andBritishaggressionagainstIraqiair-space.B、tellthemthatthebiggestU.S.air
Lastyear,whenPresidentGeorgeW.Bushannouncedthatfederalfundscouldbeusedtosupportresearchonhumanembryonicstem
"Heavens!"exclaimedtheauntofClovis,"here’ssomeoneIknowbearingdownonus.Ican’trememberhisname,butbelunchedwi
Takingchargeofyourselfinvolvesputtingtorestsomeveryprevalentmyths.Atthetopofthelististhenotionthatintellig
A、Itgivesconventionalaccountformedicine.B、Itintroducesthedietaryregimeforthesick.C、Itseesvariousmedicalissues
随机试题
使吸入麻醉药MAC增大的因素有
A.二甲胺和三甲胺 B.酸价 C.ATP值 D.过氧化值 E.酸度下述指标中,糖类分解的指标是()。
建筑物或活动场地内人员自身的一些特点对安全疏散有影响,主要表现在()等方面。
下列贸易术语的交货地点在装运港船上的有( )。
甲公司为上市公司,系增值税一般纳税人,适用的增值税税率为17%;除特别说明外,不考虑除增值税以外的其他相关税费;销售商品与提供劳务为日常的生产经营活动,销售价格均为不含增值税的公允价格。2015年10月至12月发生以下经济业务:(1)10月1日,甲公司委
下列选项根据材料无法推出的是:2009年按类别分,投诉量降幅最大的是:
犯罪构成是指构成犯罪的主观和客观要件的综合。()
材料:第一段:A市农业、畜牧业发达,轻工业比较差,想发展轻工业。第二段:你是市招商局的会展处工作人员,主要职责。第三段:你们市想做一个规模比以往更大、知名企业更多的商品洽谈贸易会。第四段:会议大体流程和要求。招商局要做一个关于轻
一间宿舍可住多个学生,则实体宿舍和学生之间的联系是()。
A、Someseacreaturesdevelopedbackbones.B、Thefirstgiantsquidwascaptured.C、Someseacreaturesshedtheirshells.D、Seali
最新回复
(
0
)