Interest Rate Cuts, Job Losses Hit European Markets
欧洲各中央银行降息应对衰退恐惧
It is another nervous day on the trading floors in Europe as various European banks dropped interest rates again. The move is designed to address fears that Europe could get caught up in a deep and difficult recession, spanning all of 2009.
随着欧洲各中央银行再次削减利率，欧洲股票交易所经历了又一个紧张的交易日。削减利率的举动是为了对付欧洲可能会陷入一场持续明年全年的严重衰退的恐惧。
The European Central Bank cut interest rates by 0.75 percent - its biggest ever move and its third cut in two months.
欧洲中央银行将利率削减了75个基点，这是该银行有史以来做出的最大的降息，也是两个月来的第3次。
Recent economic data in the 15-nation Eurozone has been grim and many European countries have been calling for this latest drop.
15国欧元区最近出台的经济数据都相当黯淡。很多欧洲国家都呼吁采取最近做出的降息行动。
Elsewhere in Europe, even stronger medicine was administered. The Swedish Central Bank cut rates by 1.75 points - a record there. In London, the Bank of England dropped rates one percent to a level not seen since 1951.
在欧洲其他地方，一些国家给经济下了更猛的药。瑞士中央银行将利率削减了1点75个百分点，创下记录。在伦敦，英格兰银行降息1个百分点，使利率达到自1951年以来没有见过的水平。
Economist George Johns from Barclays Capital says the move has not come as a surprise to those in London's financial district.
巴克莱资本公司的经济学家约翰斯说，对于伦敦金融区的人来说，这个举动并不是一个意外。
"The city was expecting something in the region of a percentage point cut," he said. "That is what we got. I think looking ahead, we are going to see more decisive action from the bank and I would see rates falling perhaps another percentage point over the coming months to a one-percentage trough."
他说：“伦敦本来预期会出现一个百分点左右的降息。这也是我们所得到的降息幅度。我认为，今后，我们会看到英格兰银行采取更加果断的行动，而且在今后几个月的时间里，我会看到利率也许会再下降一个百分点，达到1%的低谷。”
As is the case elsewhere in Europe, the British economy is stagnant and real estate, in particular, is taking a big hit. Throughout Britain, home foreclosures are increasing and mortgage lending is down a massive 70 percent from one year ago.
就像欧洲其他地方一样，英国经济停滞不前，房地产尤其受到冲击。在整个英国，丧失房屋赎回权的案例在增加，房屋贷款比一年前大幅度减少了70%。
Michael Coogan from the Council of Mortgage Lenders says the hope is most of this latest cut will be passed on to help get the property market moving again, but as he points out, there is also a downside for savers.
房贷银行理事会的库根说，现在的希望是，最新削减的利率的大部分将会传导到借款者，从而帮助房地产市场再次启动起来。但是正像他所指出的那样，对于储蓄的人来说，这个做法也存在不利的一面。
"I think where lenders can pass it on to borrowers they will," he said. "But actually the moral obligation to the very many savers who rely on investment income, charities similarly, they are going to want their savings rate to be kept up. And indeed for economic purposes, we want savings rates to be kept up to encourage savings because it is the savings money that can be lent out next year."
他说：“我认为，如果提供贷款的机构能够把更低的利息传导给借款者，他们会这样做。但是从道义上来讲，对于很多依靠投资收入的储蓄者来说，他们希望保持较高的储蓄利率。确实，出于经济目的，我们希望通过保持较高的储蓄利率来鼓励储蓄，因为到来年，银行要用这些存款来发放贷款。”
Beside the interest rate drops, the markets here were again influenced by a series of job cuts.
除了削减利率，欧洲的股市也再次受到一系列裁员的影响。
Banking giant Credit Suisse announced it is eliminating another 5,300 jobs after revealing a net loss of $2.5 billion in October and November.
银行巨头瑞士信贷在10月和11月份出现了25亿美元的净亏损之后宣布再裁减5千3百个工作。
In London, the Japanese financial group Nomura says it will cut up to 1,000 jobs in its British operation. Earlier this year, Nomura bought parts of the failed U.S. bank, Lehman Brothers.
日本金融集团野村表示，公司将削减多达1千个设在英国的职位。今年早些时候，野村购买了倒闭的美国银行雷曼兄弟的部分资产。
