Aussie banks rolling in cash, silent on rates

 　　SYDNEY, May 2 (Xinhua) --- The Australia New Zealand Bank (ANZ) has reported first-half underlying¹ profit of over 3 billion U.S. dollars, a result that stands in stark² contrast to its refusal to keep in step with the central bank's official rate movements this year.

　　Stomachs continue to turn for Australian borrowers as another leading bank has reported massive, record profits in the face of official interest rate cuts.

　　ANZ declared an interim³ fully-franked dividend⁴ of 66 Australian cents, up from 64 cents for the same time last year, including net profit making a full 10 percent leap from 2011 to 3.02 billion U.S. dollars.

　　The Federal Member for Melbourne, Adam Bandt says any failure now to pass on the interest rate cut by the "big four banks" is a dismissal of Australian consumers and a further loss of face for the Reserve bank which surprisingly cut the official rate by a full 50 basis points this week.

　　"Bank profits are soaring and will rise again this week, yet it is likely banks will continue to thumb their nose at the Reserve Bank decisions to cut rates," Bandt told Xinhua.

　　Bandt reinforced the overwhelming public sentiment here that the big four banks (ANZ, Westpac, Commonwealth⁵ Bank and National Australia Bank) have no justification⁶ for not cutting rates while their profits continue to soar.

　　The bank has been a pioneer for Australian lenders in Asia, with a particularly successful focus on China. There, improving results as well as fillips from ANZ's wide operations in Asia, South East Asia and the Pacific have balanced declining markets at home.

　　Bank bashing is an Australian tradition, however the powerful four lenders have broken an unspoken two-step with the Reserve bank on interest rates and have begun calculating their own margins⁷.

　　The ANZ wrested⁸ control of its own interest rates in January, with the other major banks following suits to the fury of Treasurer⁹ Wayne Swan and the surprise of borrowers who are on uncertain ground as Australia struggles with the effects of a patchwork¹⁰ economy.

　　ANZ CEO Mike Smith released a statement defending the ANZ's mountain of profits from what will certainly be a domestic public backlash by highlighting tightening¹¹ margins at home.

　　"Our financial performance (however) was subdued¹², significantly impacted by declining margins and the structural¹³ shift that's occurred since the financial crisis with persistently¹⁴ lower demand for credit," he said.

　　Economist¹⁵ and market watcher, Stephen Bartholomeusz has been one of the few to defend the banks, insisting that there are genuine factors in the big four protecting their margins.

　　He said, "there is a fundamental justification for the banks increasing their rates slightly. They do have longer term pre- crisis borrowings continually maturing that have to be re-financed in the current market."

　　That may be slight comfort for local borrowers with ANZ's report expected to be the first of a domino effect of record earnings¹⁶ by local banks this month.

　　If, as analysts¹⁷ expect, the big four banks rack up a combined profit of over 12 billion U.S. dollars in the first-half, while concurrently¹⁸ raising rates as the central bank slashes¹⁹ downward, there will be more than just grumblings from an alienated²⁰ public and a government treasury²¹ desperate to pass on savings²² to voters.

1 underlying   

adj.在下面的，含蓄的，潜在的

参考例句：

• The underlying theme of the novel is very serious.小说隐含的主题是十分严肃的。
• This word has its underlying meaning.这个单词有它潜在的含义。

2 stark   

adj.荒凉的；严酷的；完全的；adv.完全地

参考例句：

• The young man is faced with a stark choice.这位年轻人面临严峻的抉择。
• He gave a stark denial to the rumor.他对谣言加以完全的否认。

3 interim   

adj.暂时的，临时的；n.间歇，过渡期间

参考例句：

• The government is taking interim measures to help those in immediate need.政府正在采取临时措施帮助那些有立即需要的人。
• It may turn out to be an interim technology.这可能只是个过渡技术。

4 dividend   

n.红利，股息；回报，效益

参考例句：

• The company was forced to pass its dividend.该公司被迫到期不分红。
• The first quarter dividend has been increased by nearly 4 per cent.第一季度的股息增长了近 4%。

5 commonwealth   

n.共和国，联邦，共同体

参考例句：

• He is the chairman of the commonwealth of artists.他是艺术家协会的主席。
• Most of the members of the Commonwealth are nonwhite.英联邦的许多成员国不是白人国家。

6 justification   

n.正当的理由；辩解的理由

参考例句：

• There's no justification for dividing the company into smaller units. 没有理由把公司划分成小单位。
• In the young there is a justification for this feeling. 在年轻人中有这种感觉是有理由的。

7 margins   

边( margin的名词复数 )； 利润； 页边空白； 差数

参考例句：

• They have always had to make do with relatively small profit margins. 他们不得不经常设法应付较少的利润额。
• To create more space between the navigation items, add left and right margins to the links. 在每个项目间留更多的空隙，加左或者右的margins来定义链接。

8 wrested   

（用力）拧( wrest的过去式和过去分词 )； 费力取得； （从…）攫取； （ 从… ） 强行取去…

参考例句：

• The usurper wrested the power from the king. 篡位者从国王手里夺取了权力。
• But now it was all wrested from him. 可是现在，他却被剥夺了这一切。 来自英汉文学 - 嘉莉妹妹

9 treasurer   

n.司库，财务主管

参考例句：

• Mr. Smith was succeeded by Mrs.Jones as treasurer.琼斯夫人继史密斯先生任会计。
• The treasurer was arrested for trying to manipulate the company's financial records.财务主管由于试图窜改公司财政帐目而被拘留。

10 patchwork   

n.混杂物；拼缝物

参考例句：

• That proposal is nothing else other than a patchwork.那个建议只是一个大杂烩而已。
• She patched new cloth to the old coat,so It'seemed mere patchwork. 她把新布初到那件旧上衣上，所以那件衣服看上去就象拼凑起来的东西。

11 tightening   

上紧，固定，紧密

参考例句：

• Make sure the washer is firmly seated before tightening the pipe. 旋紧水管之前，检查一下洗衣机是否已牢牢地固定在底座上了。
• It needs tightening up a little. 它还需要再收紧些。

12 subdued   

adj. 屈服的，柔和的，减弱的 动词subdue的过去式和过去分词

参考例句：

• He seemed a bit subdued to me. 我觉得他当时有点闷闷不乐。
• I felt strangely subdued when it was all over. 一切都结束的时候，我却有一种奇怪的压抑感。

13 structural   

adj.构造的，组织的，建筑（用）的

参考例句：

• The storm caused no structural damage.风暴没有造成建筑结构方面的破坏。
• The North American continent is made up of three great structural entities.北美大陆是由三个构造单元组成的。

14 persistently   

ad.坚持地；固执地

参考例句：

• He persistently asserted his right to a share in the heritage. 他始终声称他有分享那笔遗产的权利。
• She persistently asserted her opinions. 她果断地说出了自己的意见。

15 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。

16 earnings   

n.工资收人；利润，利益，所得

参考例句：

• That old man lives on the earnings of his daughter.那个老人靠他女儿的收入维持生活。
• Last year there was a 20% decrease in his earnings.去年他的收入减少了20%。

17 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。

18 concurrently   

adv.同时地

参考例句：

• He was given two twelve month sentences to run concurrently. 他两罪均判12个月监禁，同期执行。 来自《简明英汉词典》
• He was given two prison sentences, to run concurrently. 他两罪均判监禁，同期执行。 来自辞典例句

19 slashes   

n.（用刀等）砍( slash的名词复数 )；（长而窄的）伤口；斜杠；撒尿v.挥砍( slash的第三人称单数 )；鞭打；割破；削减

参考例句：

• They report substantial slashes in this year's defense outlays. 他们报道今年度国防经费的大量削减。 来自辞典例句
• Inmates suffered injuries ranging from stab wounds and slashes to head trauma. 囚犯们有的被刺伤，有的被砍伤，而有的头部首创，伤势不一而足。 来自互联网

20 alienated   

adj.感到孤独的，不合群的v.使疏远( alienate的过去式和过去分词 )；使不友好；转让；让渡（财产等）

参考例句：

• His comments have alienated a lot of young voters. 他的言论使许多年轻选民离他而去。
• The Prime Minister's policy alienated many of her followers. 首相的政策使很多拥护她的人疏远了她。 来自《简明英汉词典》

21 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。

22 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。