news bulletin – answers

BOE offer $100 billion dollar swap plan

correct the statements

1. The Bank of England has unvaled a plan to help British banks start lending again. unveiled
2. The bank has raised its interest rate 3 times since December. cut
3. Gordon Brown wants to protect banks in the face of economic turn down. protect businesses and jobs
4. The government must make sure people can borrow money to sell houses. to buy houses
5. Analysts say the BOE plan will have a great impact. it won’t have a great impact
6. They are optimistic about the plan. no, they say it won’t reverse the impact of the credit squeeze or revive the economy
7. The swop offer is a last resort for banks in trouble. swap
8. The offer is very generous. not as generous as it sounds
9. The banks must put up collateral for a secured loan. unsecured
10. Banks will be happy to do this. they won’t want to do it unless they really have to
11. The Bank of England has acted in a timely fashion. no, it should have acted sooner
12. The U.S. launched a $200 million programme last month. $200 billion