This week, economic worries turned from inflation

Level 1 - Pronunciation and Speaking Lesson plan 1 /s/ & /sh/

This week, economic worries turned from inflation. On Wednesday, central ____________ in nations around the world acted together to lower interest _________. The fear is that a lack of credit and falling demand could cause a deep, worldwide recession. The International Monetary Fund has warned that the world is facing its most dangerous economic crisis since the nineteen thirties.

To fight slowing economic growth, the United States Federal Reserve cut its federal _________ rate to one and one half percent. That is the rate banks charge each other for overnight loans. The European Central Bank also announced an ___________ rate cut. So did central banks in Britain, Canada, Sweden and Switzerland. Australia and China also cut interest rates. The action marked the __________ time that the Federal Reserve has joined with other central banks to cut interest rates.

Tuesday, the Fed said it will make ____________ loans by purchasing what is called commercial paper. Such loans usually come from pools, or collections, of investment money. The goal is to provide financial help to all companies that need short-term loans to operate. Earlier, the central bank announced ___________ to banks of up to nine hundred billion dollars.

European _____________ are also taking steps to deal with the crisis. The Economist magazine ____________ that European banks have borrowed more against their bank ____________ than American banks have. This puts them at greater ____________ when there are low levels of activity in credit markets. Iceland is an example. Its banks borrowed many times the amount of money they held in deposits. In recent________, Iceland has had to seize three major banks. The nation has asked for a loan of more than five billion dollars from Russia to avoid a collapse of its financial system.

Level 1 - Pronunciation and Speaking Lesson plan 1 /s/ & /sh/

This week, economic worries turned from inflation. On Wednesday, central ____________ in nations around the world acted together to lower interest _________. The fear is that a lack of credit and falling demand could cause a deep, worldwide recession. The International Monetary Fund has warned that the world is facing its most dangerous economic crisis since the nineteen thirties.

To fight slowing economic growth, the United States Federal Reserve cut its federal _________ rate to one and one half percent. That is the rate banks charge each other for overnight loans. The European Central Bank also announced an ___________ rate cut. So did central banks in Britain, Canada, Sweden and Switzerland. Australia and China also cut interest rates. The action marked the __________ time that the Federal Reserve has joined with other central banks to cut interest rates. Tuesday, the Fed said it will make ____________ loans by purchasing what is called commercial paper. Such loans usually come from pools, or collections, of investment money. The goal is to provide financial help to all companies that need short-term loans to operate. Earlier, the central bank announced ___________ to banks of up to nine hundred billion dollars.

European __________ are also taking steps to deal with the crisis. The Economist magazine ____________ that European banks have borrowed more against their bank ____________ than American banks have. This puts them at greater _____________ when there are low levels of activity in credit markets. Iceland is an example. Its banks borrowed many times the amount of money they held in deposits. In recent________, Iceland has had to seize three major banks. The nation has asked for a loan of more than five billion dollars from Russia to avoid a collapse of its financial system.