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[Espresso] Cut and run: India

CRIMX 2017-08-03 00:10:00

Cut and run: India The central bank reduced its benchmark interest rate by a quarter-point at its meeting today, to 6%. - benchmark interest rate 基准利率,金融市场上具有普遍参照作用的利率 The Reserve Bank of India usually frets over stubborn inflation, but the introduction last month of a sweeping new system of taxes on goods and services seems not to have stoked it. - Reserve Bank of India 印度央行 - fret over 为…发愁 - stubborn 难去除的 - stoke 激起 And a favourable monsoon season has driven down food prices, putting consumer-price inflation at 1.5%, well below the RBI’s target of 4%. - monsoon 雨季 What worries the bank more is spurring economic growth, which has flagged for four consecutive quarters. - spur 加速 - flag 疲乏 - consecutive 连续的 A rate cut should kick-start investment. But the banking sector, saddled with huge debts, may be reluctant to pass on its savings: lending to the private sector is at its lowest in a decade. - saddle with 承担 And earlier this week the State Bank of India, the country

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Cut and run: India The central bank reduced its benchmark interest rate by a quarter-point at its meeting today, to 6%. - benchmark interest rate 基准利率,金融市场上具有普遍参照作用的利率 The Reserve Bank of India usually frets over stubborn inflation, but the introduction last month of a sweeping new system of taxes on goods and services seems not to have stoked it. - Reserve Bank of India 印度央行 - fret over 为…发愁 - stubborn 难去除的 - stoke 激起 And a favourable monsoon season has driven down food prices, putting consumer-price inflation at 1.5%, well below the RBI’s target of 4%. - monsoon 雨季 What worries the bank more is spurring economic growth, which has flagged for four consecutive quarters. - spur 加速 - flag 疲乏 - consecutive 连续的 A rate cut should kick-start investment. But the banking sector, saddled with huge debts, may be reluctant to pass on its savings: lending to the private sector is at its lowest in a decade. - saddle with 承担 And earlier this week the State Bank of India, the country’s biggest lender, cut its rates on deposits, putting pressure on other banks to follow its lead. - deposit 存款 Will they succumb? - succumb 屈服

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