VOA标准英语2010年-India's Central Bank Moves to Reverse

India's Central bank has made its first significant move to reverse stimulus¹ measures taken in the wake of the global financial crisis by asking banks to set aside larger cash reserves. The step is aimed at tackling rising inflation. The Central Bank has also raised its growth forecasts for Asia's third largest economy.

In a statement Friday, the Central Bank said economic growth could reach 7.5 percent for the financial year that ends in March. That is far higher than earlier forecasts of six percent.

But as economic recovery takes root, the Central Bank has moved to check rising inflation, which it estimates could hit 8.5 percent by March.

It has raised by three quarters of a percentage point the cash deposits that banks have to set aside as reserves. This will drain excess cash from the banking² system.

It is the first major step by the Central Bank to reverse stimulus measures taken to stabilize³ the economy after it was rocked by the global financial crisis. Like others governments around the world, India infused its economy with billions of dollars, and slashed⁴ interest rates.

The emergency measures helped India emerge faster than expected from the global recession, but it has also fueled high inflation, prompting calls for a tighter monetary⁵ policy.

However, the Central Bank has not raised interest rates, for the time being. 

India's finance secretary Ashok Chawla says the Central Bank, or Reserve Bank, is moving in a gradual, calibrated⁶ manner to handle the economic recovery.

"The Reserve bank has taken a very balanced view of the situation, and rightly acknowledged that managing the recovery is as important as managing the crisis was," he said.  "Overall the scenario⁷ seems that the growth process is very much on track, it is being handled appropriately, adequately by the Reserve bank, and this should be a good signal for trade, industry and business."

The government's greatest concern is to ensure that the nascent⁸ economic recovery is not hurt, while at the same time cooling inflation.

Officials admit that what is most worrisome is food prices, which have increased by over 15 percent, and is hurting middle class and poor people in the country.  

India's move to tighten⁹ monetary policy comes as several Asian countries also contemplate¹⁰ similar measures. Several Asian economies have begun registering good growth, but are also grappling with inflation.

Economists¹¹ have warned that stimulus measures will have to be withdrawn¹² gradually to ensure that the slow economic recovery being witnessed in many countries is not damaged.

1 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。

2 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。

3 stabilize   

vt.（使）稳定，使稳固，使稳定平衡；vi.稳定

参考例句：

• They are eager to stabilize currencies.他们急于稳定货币。
• His blood pressure tended to stabilize.他的血压趋向稳定。

4 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》

5 monetary   

adj.货币的，钱的；通货的；金融的；财政的

参考例句：

• The monetary system of some countries used to be based on gold.过去有些国家的货币制度是金本位制的。
• Education in the wilderness is not a matter of monetary means.荒凉地区的教育不是钱财问题。

6 calibrated   

v.校准( calibrate的过去式和过去分词 )；使标准化；使合标准；测量（枪的）口径

参考例句：

• Power pesticide dusters can be calibrated and used to apply pertilizer. 动力杀虫剂可以调整用来施肥。 来自辞典例句
• The flexible diaphragm is connected to a plat cantilever-calibrated spring. 柔韧的膜片一扁平的悬臂校正弹簧相连。 来自辞典例句

7 scenario   

n.剧本，脚本；概要

参考例句：

• But the birth scenario is not completely accurate.然而分娩脚本并非完全准确的。
• This is a totally different scenario.这是完全不同的剧本。

8 nascent   

adj.初生的，发生中的

参考例句：

• That slim book showed the Chinese intelligentsia and the nascent working class.那本小册子讲述了中国的知识界和新兴的工人阶级。
• Despite a nascent democracy movement,there's little traction for direct suffrage.尽管有过一次新生的民主运动，但几乎不会带来直接选举。

9 tighten   

v.(使)变紧；(使)绷紧

参考例句：

• Turn the screw to the right to tighten it.向右转动螺钉把它拧紧。
• Some countries tighten monetary policy to avoid inflation.一些国家实行紧缩银根的货币政策，以避免通货膨胀。

10 contemplate   

vt.盘算，计议；周密考虑；注视，凝视

参考例句：

• The possibility of war is too horrifying to contemplate.战争的可能性太可怕了，真不堪细想。
• The consequences would be too ghastly to contemplate.后果不堪设想。

11 economists   

n.经济学家，经济专家( economist的名词复数 )

参考例句：

• The sudden rise in share prices has confounded economists. 股价的突然上涨使经济学家大惑不解。
• Foreign bankers and economists cautiously welcomed the minister's initiative. 外国银行家和经济学家对部长的倡议反应谨慎。 来自《简明英汉词典》

12 withdrawn   

vt.收回；使退出；vi.撤退，退出

参考例句：

• Our force has been withdrawn from the danger area.我们的军队已从危险地区撤出。
• All foreign troops should be withdrawn to their own countries.一切外国军队都应撤回本国去。