VOA常速英语2008年-Bank of Japan Nominee Vows to Maintain Country'

By Naomi Martig
Hong Kong
11 March 2008

Bank of Japan Deputy Governor Toshiro Muto is asking lawmakers in Japan's divided parliament to support his candidacy as central bank chief.  As Naomi Martig reports from Hong Kong, opposition¹ members in parliament are likely to block Muto's nomination².

During confirmation³ hearings in Tokyo Tuesday, Toshiro Muto vowed⁴ to defend the Bank of Japan's independence at a crucial time for the economy.

Muto says he will adopt appropriate monetary⁵ policy to maintain Japan's economic strength.

He worked in Japan's Ministry⁶ of Finance for more than 30 years and was nominated to replace current Bank Governor Toshihiko Fukui, whose term ends next week.

Jeff Kingston is a professor of politics at Temple University in Japan.  He says Japan's opposition Democratic Party is against Muto's nomination because they say he will not be as independent as a central bank chief should be.

"The principle that they are trying to promote is that there should be a separation between fiscal⁷ policy and monetary policy," Kingston explained.  "The Bank of Japan governor sets monetary policy, Ministry of Finance sets fiscal policy."

Muto needs approval from both the upper and lower houses of parliament.  The opposition controls the upper house and has vowed to block his approval.

Members of the ruling Liberal Democratic Party argue that Muto's appointment would provide a smooth transition for the economy, at a time when global markets are in turmoil⁸.

The expected stalemate in the nomination process is troubling for some financial analysts⁹, because it raises concerns about a vacuum in Japan's monetary policy when markets are volatile¹⁰, and consumer price inflation is spreading around the world.

But Kingston says the concerns are exaggerated and that the political woes¹¹ of Japan's parliament are not likely to contribute to global market worries.

"If the new governor is not named by the time the current governor exits, there are already rules in place for the deputy governors to start carry out his work," Kingston noted¹².  "So really, whoever is going to be the next governor of the Bank of Japan is going to be keeping interest rates low, and it's not a very complicated job."

Japan's interest rates have been left at .5 percent for more than a year.  On Wednesday, Japan is expected to sharply lower its growth estimate for the last quarter of 2007.

The Japanese economy spent most of the 1990's in recession and it has grown slowly since then.  The Bank of Japan has kept interest rates at or near zero all of this decade, to stimulate¹³ spending and growth.

The dollar hovered¹⁴ near an eight-year low against the yen¹⁵, Tuesday, just above 100 yen.  The dollar has weakened over the past several months because of the faltering¹⁶ U.S. economy. Stock prices in Japan remain near two-year lows, having followed U.S. share prices lower over the past several months, because of fears of an international credit crisis.

1 opposition   

n.反对，敌对

参考例句：

• The party leader is facing opposition in his own backyard.该党领袖在自己的党內遇到了反对。
• The police tried to break down the prisoner's opposition.警察设法制住了那个囚犯的反抗。

2 nomination   

n.提名，任命，提名权

参考例句：

• John is favourite to get the nomination for club president.约翰最有希望被提名为俱乐部主席。
• Few people pronounced for his nomination.很少人表示赞成他的提名。

3 confirmation   

n.证实，确认，批准

参考例句：

• We are waiting for confirmation of the news.我们正在等待证实那个消息。
• We need confirmation in writing before we can send your order out.给你们发送订购的货物之前，我们需要书面确认。

4 vowed   

起誓，发誓（vow的过去式与过去分词形式）

参考例句：

• He vowed quite solemnly that he would carry out his promise. 他非常庄严地发誓要实现他的诺言。
• I vowed to do more of the cooking myself. 我发誓自己要多动手做饭。

5 monetary   

adj.货币的，钱的；通货的；金融的；财政的

参考例句：

• The monetary system of some countries used to be based on gold.过去有些国家的货币制度是金本位制的。
• Education in the wilderness is not a matter of monetary means.荒凉地区的教育不是钱财问题。

6 ministry   

n.(政府的)部；牧师

参考例句：

• They sent a deputation to the ministry to complain.他们派了一个代表团到部里投诉。
• We probed the Air Ministry statements.我们调查了空军部的记录。

7 fiscal   

adj.财政的，会计的，国库的，国库岁入的

参考例句：

• The increase of taxation is an important fiscal policy.增税是一项重要的财政政策。
• The government has two basic strategies of fiscal policy available.政府有两个可行的财政政策基本战略。

8 turmoil   

n.骚乱，混乱，动乱

参考例句：

• His mind was in such a turmoil that he couldn't get to sleep.内心的纷扰使他无法入睡。
• The robbery put the village in a turmoil.抢劫使全村陷入混乱。

9 analysts   

分析家，化验员( analyst的名词复数 )

参考例句：

• City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
• I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。

10 volatile   

adj.反复无常的，挥发性的，稍纵即逝的，脾气火爆的；n.挥发性物质

参考例句：

• With the markets being so volatile,investments are at great risk.由于市场那么变化不定，投资冒着很大的风险。
• His character was weak and volatile.他这个人意志薄弱，喜怒无常。

11 woes   

困境( woe的名词复数 )； 悲伤； 我好苦哇； 某人就要倒霉

参考例句：

• Thanks for listening to my woes. 谢谢您听我诉说不幸的遭遇。
• She has cried the blues about its financial woes. 对于经济的困难她叫苦不迭。

12 noted   

adj.著名的，知名的

参考例句：

• The local hotel is noted for its good table.当地的那家酒店以餐食精美而著称。
• Jim is noted for arriving late for work.吉姆上班迟到出了名。

13 stimulate   

vt.刺激，使兴奋；激励，使…振奋

参考例句：

• Your encouragement will stimulate me to further efforts.你的鼓励会激发我进一步努力。
• Success will stimulate the people for fresh efforts.成功能鼓舞人们去作新的努力。

14 hovered   

鸟( hover的过去式和过去分词 )； 靠近（某事物）； （人）徘徊； 犹豫

参考例句：

• A hawk hovered over the hill. 一只鹰在小山的上空翱翔。
• A hawk hovered in the blue sky. 一只老鹰在蓝色的天空中翱翔。

15 yen   

n. 日元；热望

参考例句：

• He wanted to convert his dollars into Japanese yen.他想将美元换成日币。
• He has a yen to be alone in a boat.他渴望独自呆在一条船上。

16 faltering   

犹豫的，支吾的，蹒跚的

参考例句：

• The economy shows no signs of faltering. 经济没有衰退的迹象。
• I canfeel my legs faltering. 我感到我的腿在颤抖。