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European shares extend their rally into a third day Thursday. For VOA, Tom Rivers in London has details.Double-decker bus advertising1 chocolate drives past The Bank of England in central London, 08 Oct 2008 |
In Britain, the Bank of England is expected to cut rates in the next few days. While the Bank's decision is independent from the government, Treasury2 Secretary Alastair Darling hinted Thursday that the central bank will likely opt3 for a cut now to counter growing recessionary pressures.
"The Bank of England's remit4 is sufficiently5 wide to allow it firstly to target inflation. And I think inflation is coming back down now, or will come back down now, but also to help the government in its wider objectives of supporting the economy," said Darling.
Recession worries here, as in the rest of Europe, center on mortgage difficulties, rising unemployment and the difficulties small businesses face. Darling says the government is freeing up four billion pounds, or around $6.5 billion, specifically for banks to loan to those small companies feeling the squeeze right now.
"I want to make sure that we do everything we possibly can to help them. And today's step of making that extra four billion pounds available I believe will be a significant step forward and I want the banks to get on with doing the job that they do and that is making sure that where you have got perfectly6 good prospects7, that you help those businesses. They need that help," he said.
Elsewhere on the European markets Thursday, strong third quarter results by Deutsche Bank, Germany's largest bank, boosted the Dax index. Commerzbank and UBS were also up.
Royal Dutch Shell fell two percent, despite recording8 a quarterly net profit increase of just over 70 percent.
Among others reporting results, consumer giant Unilever was up two percent after posting a rise in third quarter sales.
While the mood is more upbeat Thursday, analysts9' stress that the European economy remains10 in a slump11 and that inevitably12 means there will be more bad days ahead.
1 advertising | |
n.广告业;广告活动 a.广告的;广告业务的 | |
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2 treasury | |
n.宝库;国库,金库;文库 | |
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3 opt | |
vi.选择,决定做某事 | |
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4 remit | |
v.汇款,汇寄;豁免(债务),免除(处罚等) | |
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5 sufficiently | |
adv.足够地,充分地 | |
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6 perfectly | |
adv.完美地,无可非议地,彻底地 | |
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7 prospects | |
n.希望,前途(恒为复数) | |
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8 recording | |
n.录音,记录 | |
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9 analysts | |
分析家,化验员( analyst的名词复数 ) | |
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10 remains | |
n.剩余物,残留物;遗体,遗迹 | |
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11 slump | |
n.暴跌,意气消沉,(土地)下沉;vi.猛然掉落,坍塌,大幅度下跌 | |
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12 inevitably | |
adv.不可避免地;必然发生地 | |
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