VOA标准英语10月-Indian PM Says Financial Institutions Safe, But F

The Indian Prime Minister says that Indian financial institutions will not be impacted by the global credit crisis, but admits the country's high-growth economy could slow down. As Anjana Pasricha reports from New Delhi, his assurance came as the country's Central Bank slashed¹ lending rates to ease the credit crunch² that is beginning to hurt the Indian economy.

Indian Prime Minister Manmohan Singh told parliament Monday that the Indian banking³ system is not exposed to the mortgage-backed securities that spawned⁴ the current global financial crisis.

"Our banks, both in the public sector⁵ and in the private sector are financially sound, well capitalized, and well regulated [some sound of applause] and…there should be no fear of a failure of any bank," he said.

The assurance comes in the wake of a steep fall in the India stock markets in the weeks since the global credit crisis erupted. Investors⁶ - both domestic and foreign - have been pulling funds out of the market, creating a liquidity⁷ crunch in the country.

On Monday, the Central bank slashed its key short term lending rate by one percentage point to eight percent in a bid to infuse more credit into the economy, and shield it from the global financial crisis. The step is in tune⁸ with Central Banks across the world, which have cut interest rates in recent weeks to prop⁹ up their economies.

However, Prime Minister Singh admitted that India's emerging economy cannot escape the economic turbulence¹⁰ in the world. He says growth will slow down from the sizzling nine percent witnessed last year.

"The size and impact is difficult to estimate at this point since the depth and duration of the global slowdown remain uncertain. Some estimates project GDP growth to decelerate to seven point five per cent in the current year," he said. "The most pessimistic estimates place it at no less than seven percent. Our effort will be to minimize the impact of the financial crisis and return to the growth trajectory¹¹ of nine per cent."

Indian leaders are hoping that the economy will escape from a severe slowdown because it is driven largely by domestic demand, and is not as dependant¹² on exports as many East Asian economies.

But analysts¹³ point out that the credit crunch has started impacting the broader economy.

They point out that there are fewer buyers for homes, automobiles¹⁴ and other consumer goods ahead of the country's main festival season, when sales are usually brisk.

1 slashed   

v.挥砍( slash的过去式和过去分词 )；鞭打；割破；削减

参考例句：

• Someone had slashed the tyres on my car. 有人把我的汽车轮胎割破了。
• He slashed the bark off the tree with his knife. 他用刀把树皮从树上砍下。 来自《简明英汉词典》

2 crunch   

n.关键时刻；艰难局面；v.发出碎裂声

参考例句：

• If it comes to the crunch they'll support us.关键时刻他们是会支持我们的。
• People who crunch nuts at the movies can be very annoying.看电影时嘎吱作声地嚼干果的人会使人十分讨厌。

3 banking   

n.银行业，银行学，金融业

参考例句：

• John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
• He possesses an extensive knowledge of banking.他具有广博的银行业务知识。

4 spawned   

（鱼、蛙等）大量产（卵）( spawn的过去式和过去分词 )； 大量生产

参考例句：

• The band's album spawned a string of hit singles. 这支乐队的专辑繁衍出一连串走红的单曲唱片。
• The computer industry has spawned a lot of new companies. 由于电脑工业的发展，许多新公司纷纷成立。

5 sector   

n.部门，部分；防御地段，防区；扇形

参考例句：

• The export sector will aid the economic recovery. 出口产业将促进经济复苏。
• The enemy have attacked the British sector.敌人已进攻英国防区。

6 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

7 liquidity   

n.流动性，偿债能力，流动资产

参考例句：

• The bank has progressively increased its liquidity.银行逐渐地增加其流动资产。
• The demand for and the supply of credit is closely linked to changes in liquidity.信用的供求和流动资金的变化有密切关系。

8 tune   

n.调子；和谐，协调；v.调音，调节，调整

参考例句：

• He'd written a tune,and played it to us on the piano.他写了一段曲子，并在钢琴上弹给我们听。
• The boy beat out a tune on a tin can.那男孩在易拉罐上敲出一首曲子。

9 prop   

vt.支撑；n.支柱，支撑物；支持者，靠山

参考例句：

• A worker put a prop against the wall of the tunnel to keep it from falling.一名工人用东西支撑住隧道壁好使它不会倒塌。
• The government does not intend to prop up declining industries.政府无意扶持不景气的企业。

10 turbulence   

n.喧嚣，狂暴，骚乱，湍流

参考例句：

• The turbulence caused the plane to turn over.空气的激流导致飞机翻转。
• The world advances amidst turbulence.世界在动荡中前进。

11 trajectory   

n.弹道，轨道

参考例句：

• It is not difficult to sketch the subsequent trajectory.很容易描绘出它们最终的轨迹。
• The path followed by a projectile is called its trajectory.抛物体所循的路径称为它的轨道。

12 dependant   

n.依靠的，依赖的，依赖他人生活者

参考例句：

• The dependent dependant cannot live independently.依靠别人的被赡养者不能独立生活。
• The fact that the woman is still regarded as the man's dependant.再加上女人仍被看作是男人的附属品这一事实。

13 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。

14 automobiles   

n.汽车( automobile的名词复数 )

参考例句：

• When automobiles become popular,the use of the horse and buggy passed away. 汽车普及后，就不再使用马和马车了。 来自《简明英汉词典》
• Automobiles speed in an endless stream along the boulevard. 宽阔的林荫道上，汽车川流不息。 来自《现代汉英综合大词典》