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Business Words in the News
Friday 14 September 2001
Vocabulary from the business news. Listen to and read the report then find explanations of difficult words below.

  Horst Koehler
IMF Statement on global economy
Summary: The Managing Director of the International Monetary Fund Horst Koehler says that the attacks on the United States should only have a limited effect on the international economy. This report from Andrew Walker:
   
The News Listen  
  In a statement, Mr Koehler said the fact that monetary institutions and systems are working well demonstrates the resilience of the international financial system. He said the IMF has been in touch with a number of central banks around the world and he said they have been taking action to ensure the orderly functioning of financial markets.

One of the great concerns is likely to be the risk of banks and businesses running out of cash to meet immediate needs. Central banks have already been supplying additional funds to the banking system to reduce that risk. And it is widely expected in financial markets that there will be cuts in interest rates, certainly from the US Federal Reserve and from other central banks too. Such moves would be intended to reinforce confidence - in the markets and more widely among consumers and businesses.

Andrew Walker, BBC Economics Correspondent

 
   
The Words Listen
 
  monetary institutions
banks and finance houses

 
   
  resilience
strength

 
   
  financial system
network of banks and other organisations that deal with money

 
   
  has been in touch with
has contacted, spoken with

 
   
  ensure the orderly functioning
make sure that it works well

 
   
  running out of cash
may soon have no money

 
   
  additional funds
more money

 
   
  cuts in interest rates
it will cost less to borrow money

 
   
  US Federal Reserve
central bank for the United States

 
   
  reinforce confidence
strengthen belief, trust

 
   
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