US Central Bank Cuts Short-term Interest Rates to Nearly Zero
美聯(lián)儲(chǔ)大幅削減利率

Saying the economy is continuing to weaken, the U.S. central bank Tuesday cut short-term interest rates to nearly zero.

由于經(jīng)濟(jì)持續(xù)走軟，美聯(lián)儲(chǔ)星期二宣布將短期利率降至0.25%。

The Federal Reserve is taking short-term rates to their lowest level since the central bank was founded in 1913. It is cutting rates by three quarters of one percent to 0.25 percent.

美聯(lián)儲(chǔ)將短期利率降至1913年美聯(lián)儲(chǔ)成立以來的最低利率。經(jīng)過兩天會(huì)議后，美聯(lián)儲(chǔ)公開市場(chǎng)委員會(huì)宣布把基準(zhǔn)利率削減四分之三個(gè)百分點(diǎn)，達(dá)到0.25%。

Following its two-day meeting, the 12 member policy making committee said the central bank will use all available tools to stimulate economic activity and combat the financial crisis. It was tenth cut in short-term rates in the past 12 months.

美聯(lián)儲(chǔ)說，央行將使用所有可以利用的工具來刺激經(jīng)濟(jì)活動(dòng)和抗擊金融危機(jī)。此次降息是美聯(lián)儲(chǔ)在過去12個(gè)月里第10次下調(diào)短期利率。

Bill Poole was until earlier this year a Federal Reserve governor. "The Fed is sending a message that it will print money to an unlimited extent until it starts to see the economy expanding," he said.

前美聯(lián)儲(chǔ)理事比爾.普爾說：“美聯(lián)儲(chǔ)發(fā)出的信息是，它將無休止地印制鈔票，直到看到經(jīng)濟(jì)擴(kuò)張為止。”

In its statement, the Fed said that the economic outlook has weakened further since the committee's last meeting in late October. The U.S. economy has been in recession for one year. The gross domestic product expanded by a meager 0.5 percent annual rate in the three months ending in September.

美聯(lián)儲(chǔ)星期二發(fā)表的聲明說，從上一次，也就是10月底的會(huì)議以來，美國經(jīng)濟(jì)前景進(jìn)一步走弱。美國經(jīng)濟(jì)陷入衰退已經(jīng)一年。第三季度，美國GDP折合年率僅增長了半個(gè)百分點(diǎn)。

And some analysts expect negative growth at a six percent annual rate in the current three-month quarter. The economy has lost nearly two million jobs in the past year and the recession is already the longest in 25 years. Some analysts worry that the downturn will be worst in the post-World War II period.

一些經(jīng)濟(jì)學(xué)家說，今年第四季度美國經(jīng)濟(jì)很可能收縮6個(gè)百分點(diǎn)。過去一年來，美國已經(jīng)失去將近兩百萬個(gè)就業(yè)機(jī)會(huì)。美國目前的經(jīng)濟(jì)衰退已經(jīng)是過去25年來最長的一次。經(jīng)濟(jì)學(xué)家擔(dān)心，這次經(jīng)濟(jì)下行很可能是二戰(zhàn)以來最嚴(yán)重的一次。

The global outlook is not much better as Japan and parts of Western Europe have entered recession. And growth in China-the fastest growing emerging economy is decelerating from the rapid 12 percent rate of earlier this year.

由于日本和西歐一些國家也進(jìn)入衰退，全球經(jīng)濟(jì)前景并不看好。增長最快的新興經(jīng)濟(jì)體中國也出現(xiàn)了減速，盡管今年早些時(shí)候中國還實(shí)現(xiàn)了12%的增長。

Analysts say the central bank's challenge is greatly compounded by the 15-month old credit squeeze that has essentially frozen some sectors of the credit markets. Thus, no matter how low interest rates are, creditors are reluctant to lend, while businesses and consumers are reluctant to borrow.

分析人士說，美聯(lián)儲(chǔ)的挑戰(zhàn)由于持續(xù)了15個(gè)月的信貸緊縮而變得更加嚴(yán)峻。由于一些信貸市場(chǎng)處于凍結(jié)狀態(tài)，因此，不論利率降到多低，信貸機(jī)構(gòu)都不愿意發(fā)放貸款，而企業(yè)和消費(fèi)者也不愿意借錢。

The stock market responded favorably to the news of the larger than expected rate cut. A rally that had seen the Dow industrials up 100 points quickly changed to a 200 point advance.