Key Vocabulary

monetary policy кредитно-денежная политика NOTE: перевод данного

выражение как
«монетаристская
политика» возможен в
ограниченном количестве
контекстов, где речь идет
о монетаризме.
Some countries tighten
monetary policy to avoid
inflation.
interest rate процентная ставка The economy needs an
immediate 2 per cent cut in

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 interest rates.
central bank центральный банк The Central Bank has
lowered interest rates by 2 per
cent.
monetary tool инструмент кредитно- Interest rates are one of the
денежной политики most efficient monetary tools.
open market открытый рынок The Central Bank is
authorized to sell government
bonds on the open market.
inflation инфляция The rate of inflation is
running at about 2.7 per cent.
There has been a sharp
growth экономический рост slowdown in economic
growth.
The policy is partly to blame
unemployment безработица for causing the worst
unemployment in Europe.

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Text Vocabulary
saving сбережение; экономия Most savers are putting their
money where the best rates of
interest will help their
savings grow.
bond облигация The eight-year bond will bear
annual interest of 10%.
stock market фондовый рынок Attention is fixed on the stock
market.
performance результаты деятельности Illiteracy threatens Britain’s
industrial performance.
Federal Reserve Федеральная резервная ABBR: Fed
System, the система, ФРС The article gives an
explanation of the Federal
Reserve System and
comments on its influence on
the monetary market.
short-term краткосрочный The short-term outlook for
employment remains gloomy.
Federal Open Комитет по операциям на ABBR: FOMC
Market открытом рынке At its meetings, the Federal
Committee, the Федеральной Резервной Open Market Committee
Системы reviews economic and
financial conditions,
determines the appropriate
stance of monetary policy,
and assesses the risks to its
long-run goals of price
stability and sustainable
economic growth.
reserve bank резервный банк A study recently published by
the Federal Reserve Bank of
Dallas looked at American
families who were among the

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 poorest 20% of the income
distribution last year.
discount rate дисконтная ставка It implies that a much lower
discount rate than the one
appropriate for short-term
projects should be used.
wages зарплата Salary and wages are both
Слово, как правило, used to refer to the money
употребляется во paid to someone regularly for
множествеенном числе. the work they do.
aggregate совокупный The rate of growth of GDP
will depend upon the rate of
growth of aggregate demand.
trade-off компромисс, уступка The newspaper’s headline
indicates that there was a
trade-off at the summit.
output выпуск Hourly output by workers
declined 1.3% in the first
quarter.
long-term долгосрочный A new training scheme to
help the long-term
unemployed is expected.
allocation ассигнование; распределение A State Department
spokeswoman said that the
aid allocation for Pakistan
was still under review.
to cushion ослаблять The price rises will be
cushioned by welfare
benefits.
liquidity ликвидность The company maintains a
high degree of liquidity.

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Text Vocabulary
Federal Reserve Совет Федеральной The seven members of the
Board, the резервной системы Federal Reserve Board are
appointed by the president,
subject to confirmation by the
Senate.
sustainable устойчивый Rising earnings and low
mortgages were helping to
create one of the most
favourable times ever to buy
a house and providing the
right conditions for a
sustainable recovery.
governor управляющий (банком) Jean-Claude Trichet, the
Governor of the Bank of
France, called on the Prime
Minister to limit a 1999
budget deficit.
consumer price потребительская цена Canadian consumer price
inflation edged down to 1.6%
in the 12 months to May.

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inflation target целевой показатель With a formal inflation target,
инфляции the FOMC would have the
responsibility of explaining
why a monetary policy
response to this target miss
would be unnecessary and
perhaps harmful.
to curb обуздать (например, Inflation needs to be curbed
инфляцию) in Russia.

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Text Vocabulary
living standard уровень жизни It gave a better living
standard to farmers.
monetary stance зд. проводимая кредитно- The acceleration of inflation,
денежная политика the soft monetary stance of
the authorities and the

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 commodities boom all worked
to boost stockbuilding.
to loosen ослаблять (политику) Mr Gorbachev's Soviet Union
is a discouraging example of
what happens when the party
loosens its control of the
economy and the people.
to tighten ужесточать (политику) If the Fed tightens policy
before official figures show
inflation to be rising, it will
come under fierce political
attack.
survey обзор; опрос French enterprises expect to
increase their spending on
information systems, says a
recent survey by Paris-based
TMO Consultants.
consumer доверие потребителей Чаще всего выражается в
confidence росте спроса на товары
длительного пользования.
The Gulf war has severely
dented business and
consumer confidence.
business уверенность бизнеса; деловая Business confidence and
confidence активность investment would surely
suffer.
trend тенденция Such a trend would be
counter to government action.
balance of платежный баланс It contributes £11,000 million
payments net to our balance of
payments.
fluctuation колебание Italy committed itself to a
smaller margin of fluctuation
within the EMS in January
1990.
exchange rate обменный курс Information on foreign
currency exchange rate
movements over past years is
included in the supplement.

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Text Vocabulary
repurchase договор об обратной ABBR: repo
agreement покупке, репо (соглашение, A repurchase agreement
по которому продавец (repo for short) is a form of
обязуется в установленный short-term borrowing for
срок выкупить у покупателя dealers in government
проданные ему ценные securities.
бумаги по установленной
цене )
repo см. repurchase agreement Repos are classified as a
money-market instrument.

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 Text Vocabulary
security ценная бумага For the party selling the
security (and agreeing to
repurchase it in the future) it
is a repo; for the party on the
other end of the transaction,
(buying the security and
agreeing to sell in the future)
it is a reverse repurchase
agreement.
CGS сокр. от Commonwealth The Reserve Bank undertakes
Government Securities domestic market operations
правительственные ценные when buying and selling
бумаги Содружества Commonwealth Government
Securities (CGS) and
Repurchase Agreements
(usually called “Repos”).

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