EN： The Present Perfect tense ('has risen') is formed with 'have/has' + past participle. It is used here to report recent news or events that have a direct relevance or connection to the present moment.
中文： 现在完成式（has risen）由「have/has + 过去分词」构成。在此处用于报道最近刚发生的新闻事件，强调该事件对当前现状所产生的影响与关联。
House prices have risen significantly over the past year.
房价在过去一年中大幅上涨。
EN： A non-defining relative clause introduced by ', which' adds non-essential, supplementary information about the preceding clause or fact. It is always separated by a comma.
中文： 非限定关系子句以「, which」引导，用来对前方整件事或名词补充说明额外的非必要信息。非限定子句前方必须加上逗号与主句隔开。
He passed his driving test on the first attempt, which surprised everyone.
他第一次尝试就考过了驾照，这让大家都很惊讶。
EN： In the UK, inflation is closely monitored by the government and the Bank of England, with an official target of 2.0%. A figure of 3.1% represents an overshoot, triggering widespread media coverage and potential interest rate responses.
中文： 在英国，通货膨胀率受到政府与英格兰银行的密切监控，官方设定的通胀目标为 2.0%。当达到 3.1% 时属于超出目标水平，通常会引发媒体广泛报道与央行升息等政策应对考量。
EN： The pattern 'the reason for [noun/gerund] is [noun phrase / that-clause]' is commonly used to state causes. Notice that 'reason' takes the preposition 'for', not 'of'.
中文： 句型「the reason for [名词/动名词] is [名词短语 / that 子句]」常用于说明原因。请注意，名词 reason 后面通常搭配介词 for，而非 of。
The main reason for the delay was bad weather.
延误的主要原因是恶劣的天气。
EN： In the phrase 'rising cost', 'rising' is a present participle functioning as an adjective to describe an ongoing or developing change (increasing costs).
中文： 在「rising cost」中，「rising」是现在分词作形容词用，修饰名词 cost，用来表示正在发生或持续上涨的动态变化。
Rising temperatures are affecting agricultural production worldwide.
不断上升的气温正影响全球的农业生产。
EN： In British English, 'motor fuel' typically refers to petrol and diesel for vehicles. Fuel prices are heavily taxed in the UK (Fuel Duty and VAT), making transportation costs a particularly sensitive and prominent driver of overall inflation figures.
中文： 在英国英语中，“motor fuel”通常指供车辆使用的汽油（petrol）与柴油（diesel）。英国对燃料课征高额税金（燃油税与增值税），因此燃料价格的波动往往对英国的总体通货膨胀率有极为显著且敏感的影响。
EN： "Despite" is a preposition meaning "without being affected by" and must be followed by a noun, noun phrase, or gerund (-ing form), NOT a full clause with a subject and verb.
中文： “Despite”（尽管）为介词，后面必须接名词、名词短语或动名词（V-ing），不能直接接含有主语与动词的完整从句。
Despite the heavy rain, the football match continued as planned.
尽管下着大雨，足球赛仍按计划继续进行。
EN： The idiom "keep [something] on hold" means to delay, postpone, or maintain something in an unchanged state for a period of time. Here, it refers to keeping interest rates unchanged.
中文： 短语“keep [something] on hold”意指“暂停、延期”或“维持现状暂不变动”。在此处指维持利率不变。
The company decided to keep all new hiring on hold until next quarter.
该公司决定将所有新的人事招聘暂时搁置，直到下一季。
EN： The Bank of England's Monetary Policy Committee (MPC) typically meets eight times a year to decide on the UK's official bank rate. These meetings usually conclude on a Thursday, when their rate decision is publicly announced at noon.
中文： 英格兰银行的货币政策委员会（MPC）通常每年召开八次会议以决定英国官方基准利率。这些决策会议通常会在「周四」结束，并于当天中午正式向大众公布利率决议。
EN： An appositive phrase ('chief economist at Forvis Mazars') sits between commas right after a noun ('George Lagarias') to rename or provide essential background information about that person or thing without starting a whole new sentence.
中文： 同位语（chief economist at Forvis Mazars）置于逗号之间，紧随专有名词（George Lagarias）之后，用来补充说明该人物的职位或身份，无需使用完整的子句。
Sarah Lin, a senior analyst at TechCorp, delivered the opening speech.
科技公司的资深分析师莎拉·林发表了开幕演讲。
EN： The reporting structure 'warned that + noun clause' uses a that-clause as the direct object of the reporting verb. Inside this clause, the modal verb 'could' conveys possibility rather than certainty.
中文： 动词 warn 后接 that 引导的名词子句作为宾语（warn that...），子句中的情态助动词 could 用来表示客观或潜在的可能性，而非百分之百确定的事实。
The meteorologist warned that heavy rain could lead to flash floods.
气象学家警告，强降雨可能会引发暴洪。
EN： In financial journalism, experts often use modal auxiliaries like 'could' or 'may' alongside terms such as 'economic shock' to offer prudent forward-looking analyses without making definitive market predictions.
中文： 在财经新闻报道中，分析师常搭配使用 could 或 may 等情态助动词与「经济冲击（economic shock）」等专业术语，以便在提供前瞻性预警的同时，保留客观性并避免做出过于绝对的市场预测。
EN： The verb 'explained' introduces a noun clause functioning as the direct object, starting with the subordinating conjunction 'that'. Inside the clause, two predicate verb phrases ('often look at the past' and 'may not show current risks') are connected by the coordinating conjunction 'and'.
中文： 动词「explained」后接由从属连词「that」引导的名词子句作为宾语。子句内部包含两个由并列连词「and」并列的谓语动词短语（「often look at the past」与「may not show current risks」）。
The analyst warned that market reports reflect historical trends and cannot predict sudden shocks.
分析师警告说，市场报告反映的是历史趋势，无法预测突发冲击。
EN： The modal verb 'may' expresses possibility or likelihood. Followed by 'not' and the base form verb 'show', 'may not show' indicates that there is a realistic possibility that the figures fail to reveal something.
中文： 情态动词「may」表示可能性。后面接「not」与原形动词「show」，形成「may not show」，表示「可能无法显示／呈现」某事。
These preliminary results may not reflect the final outcome.
这些初步结果可能无法反映最终的结果。
EN： In economic discourse, inflation figures are considered 'lagging indicators' because they measure price changes that have already occurred in the preceding month. Economists frequently emphasize this distinction to caution central banks against tightening or loosening monetary policy based purely on backward-looking data.
中文： 在经济学术语中，通胀数据被视为「落后指标」（lagging indicator），因为它们衡量的仅是上个月已发生的物价变化。经济学者常强调此特点，以提醒央行切勿仅凭着眼于过去的数据来制定未来的货币政策。
EN： The correlative conjunction 'not... but...' is used to connect two contrasting elements of equal grammatical rank, indicating that the first element is rejected and the second is affirmed.
中文： 对等连接词「not... but...」（不是……而是……）用于连接两个结构对称的成分，表达否定前者、肯定后者的对比关系。
Success is not a matter of luck but the result of hard work.
成功不是运气的问题，而是努力的结果。
EN： The past participle phrase 'caused by energy supply problems' acts as a reduced relative clause modifying the preceding noun 'a sudden shock'. It is equivalent to 'which is caused by...'.
中文： 过去分词短语「caused by energy supply problems」作为后位修饰语，修饰前面的名词「a sudden shock」，相当于关系子句「which is caused by...」的省略形态。
The delay was due to damages caused by the heavy storm.
这次延误是由于暴风雨造成的损害所致。
EN： In economic news and analysis, phrases like 'supply shock' (often related to energy and oil) distinguish sudden cost spikes from 'demand-pull inflation', which arises from high consumer spending. Central banks find supply shocks harder to manage via interest rates.
中文： 在财经新闻与经济分析中，「供应冲击」（supply shock，常与能源及石油问题相关）与一般的消费者需求推动之通胀截然不同。央行通常难以单靠调整利率来应对供应中断所带来的冲击。
EN： The verb 'suggest' is followed by a that-clause expressing a recommendation. In British English and standard formal English, 'should + base verb' is commonly used inside the that-clause (e.g., 'suggested that the Bank of England should not make...'), alongside the subjunctive mood ('suggested that the Bank of England not make...').
中文： 动词「suggest」（建议）后方常接 that 引导的名词子句来表达建议或主张。在英式英语与正式英语中，子句内常用「should + 原形动词」（如本句中的 should not make），亦可使用虚拟语气（省略 should 直接用原形动词 not make）。
The doctor suggested that she should take a few days off work.
医生建议她应该请几天假休息。
EN： The participial phrase 'based on old data' functions as an adverbial or adjectival modifier modifying the noun phrase 'quick decisions' (or the action 'make quick decisions'), meaning 'founded on' or 'relying on'.
中文： 分词短语「based on old data」（基于过时的数据）作为修饰语，修饰前面的名词短语「quick decisions」或动作「make quick decisions」，表示「以……为依据」或「基于……」。
We cannot draw conclusions based on limited information.
我们不能根据有限的信息得出结论。
EN： The 'Bank of England' is the central bank of the United Kingdom, responsible for setting official interest rates to manage inflation. In financial and economic journalism, economists frequently caution central banks against being 'backward-looking' (relying solely on lagging indicators like past inflation figures) when determining monetary policy.
中文： 「英格兰银行」（Bank of England）是英国的中央银行，负责制定官方基准利率以控制通货膨胀。在财经新闻中，经济学家常告诫央行不应过度「向后看」（即单纯依赖过往通胀数据等滞后指标），以免做出反应过度或滞后的货币政策决策。
EN： The conjunction 'that' introduces a noun clause serving as the direct object of the reporting verb 'said'. Inside this clause, two independent clauses are connected by the coordinating conjunction 'but' to show contrast.
中文： 连接词「that」引导名词子句，作为转述动词「said」的直接受词。在此子句内部，对等连接词「but」连接了两个子句，用来表示对比或转折。
She warned that higher taxes could raise revenue, but they might also reduce consumer spending.
她警告说，加税可能会增加财政收入，但同时也可能减少消费者支出。
EN： The modal verb 'can' is used here to express theoretical possibility (what is capable of happening under certain circumstances), followed by the base form of the verb ('push', 'hurt').
中文： 情态助动词「can」在此表示理论上的可能性（在特定情况下可能发生的事情），其后接动词原形（「push」、「hurt」）。
Sudden weather changes can disrupt flight schedules.
天气的突然变化可能会扰乱航班时刻表。
EN： In macroeconomic discussions, this dilemma describes 'stagflation' risks: when supply shocks (like rising oil or food costs) raise prices while simultaneously dampening production and economic output, putting central banks in a difficult policy bind.
中文： 在宏观经济学讨论中，这种困境指的正是「滞胀」（stagflation）的风险：当供应冲击（例如油价或粮食成本上升）推高物价的同时，又抑制了生产与经济产出，这往往使央行的货币政策陷入两难境地。
EN： The phrase 'rather than' is a coordinating conjunction used to indicate preference or contrast, meaning 'instead of'. Here, it contrasts 'supply-side disruptions' with 'consumer demand'.
中文： 「rather than」为并列连词，意为「而非」或「而不是」，用以表示对比或选择。在此句中用来对比「供应端中断（supply-side disruptions）」与「消费者需求（consumer demand）」。
We should focus on long-term growth rather than short-term profits.
我们应该专注于长期成长，而不是短期利润。
EN： The relative clause 'that are caused by...' uses a passive voice structure ('are caused by') to modify the noun 'problems', specifying the origin or cause of the issues.
中文： 关系从句「that are caused by...」使用被动语态（are caused by）来修饰先行词「problems」（问题），明确说明这些问题的起因或来源。
The delays that were caused by bad weather have now been resolved.
由恶劣天气所造成的延误目前已经解决。
EN： Central banks primarily manage the economy using monetary policy tools like interest rates, which work by influencing demand (borrowing and consumer spending). When inflation is driven by 'supply-side disruptions' (such as oil shortages or shipping blockages), raising interest rates does not fix the underlying supply problem and can risk triggering a recession.
中文： 中央银行主要透过利率等货币政策工具调控经济，这些工具本质上是透过影响借贷与消费来调节「需求端」。但当通胀是由「供应端中断」（如石油供应短缺或航运受阻）引起时，升息无法解决实质的供给问题，反而可能抑制经济增长并引发衰退。
EN： A non-defining relative clause begins with a comma and a relative pronoun (here, 'who'). It provides extra, non-essential information about the preceding noun ('the chancellor'). If removed, the core sentence remains complete and clear.
中文： 非限定关系子句（Non-defining relative clause）：使用逗号隔开，并以关系代词（此处为 who）引导，用来补充说明先前的名词（the chancellor）。即使将此子句删除，主要子句的意思依然完整明确。
The manager, who joined the company last month, introduced a new policy.
上个月刚加入公司的经理推行了一项新政策。
EN： Present participles (verb-ing) can act as adjectives preceding a noun to describe an ongoing action or state. Here, 'rising' functions as an adjective modifying 'inflation'.
中文： 现在分词作形容词（Participle as Adjective）：动词加上 -ing 后可作为形容词置于名词前，表示正在进行或持续变化的状态。此处 'rising' 修饰 'inflation'，表示「正在上升的通货膨胀」。
The rising temperatures have caused severe droughts in the region.
不断上升的气温在该地区引发了严重的干旱。
EN： In British politics, 'the chancellor' is short for the 'Chancellor of the Exchequer', who is the senior cabinet minister responsible for all economic and financial matters, equivalent to a finance minister or the Treasury Secretary in the US. The Chancellor's 'Budget' is a major annual event that outlines government taxation and spending plans.
中文： 在英国政治体系中，'the chancellor' 是 'Chancellor of the Exchequer'（财政大臣）的简称，相当于其他国家的财政部长。财政大臣所公布的「预算案」（Budget）是英国政经界每年的重头戏，会详细规划国家的税收与公共开支方案。
EN： The 'There + be' structure is used to indicate the existence of something. Here, 'news' is an uncountable noun, so the singular past verb 'was' is used, preceded by the quantifier 'some'.
中文： 「There + be」句型用来表示「存在……」。在此处，「news」（消息、新闻）为不可数名词，因此搭配单数过去式动词「was」，并由不定代词/限定词「some」修饰。
There was some useful information in yesterday's report.
昨天的报告中有一些有用的信息。
EN： 'However' is a conjunctive adverb used to introduce a contrast or concession. When placed at the beginning of a clause or sentence, it is followed by a comma.
中文： 「However」为连接副词，用来引出转折或对比语气。放在句首时，后方通常需加上逗号与主句隔开。
However, the company decided to expand into international markets.
然而，该公司决定进军国际市场。
EN： In financial news, 'bond markets' refer to the global market where government and corporate debt securities are issued and traded. When government bond yields fall, it generally signals that borrowing costs for the state are decreasing, which financial analysts and media typically interpret as 'positive news'.
中文： 在财经新闻中，「bond markets（债券市场）」是指政府与企业发行及交易债务证券的市场。当政府公债殖利率下降时，通常代表国家借贷成本降低，财经媒体常将此解读为市场的「利好消息」（positive news）。
EN： The past continuous tense ('were falling') is used to describe an ongoing action or trend in the past, often contrasted with another event.
中文： 过去进行式（were falling）用来描述过去某一特定时间点正在持续进行的动作或趋势，常与另一个事件形成对比。
Company profits were falling before the new management took over.
在新管理层接管之前，公司利润一直在下滑。
EN： The past perfect tense ('had reached') combined with the conjunction 'after' indicates that the action of reaching the highest point occurred before the dropping of yields in the past.
中文： 过去完成式（had reached）与连接词 'after' 连用，表示「达到最高点」这一动作发生在过去殖利率「下跌（dropped）」这个事件之前，用以明确先后顺序。
The stock bounced back after it had fallen to a record low.
该股票在跌至历史新低后出现了反弹。
EN： In the UK, government bonds are colloquially referred to as 'gilts'. The 'ten-year bond yield' is closely watched by investors and policymakers as a benchmark indicator of government borrowing health and broader economic stability.
中文： 在英国，政府发行的公债通常被俗称为「金边债券（gilts）」。其中「十年期公债殖利率」是投资者与决策者极为关注的核心基准指标，能直接反映政府借款成本与整体经济的稳定程度。
重要单词附有 IPA 发音、定义、例句和互动式测验。
在本文中： 通货膨胀，物价持续上涨的现象
在本文中： 中断、干扰或混乱
在本文中： 经济学家
在本文中： 突如其来的冲击或震荡
在本文中： （英国的）财政大臣（Chancellor of the Exchequer 的简称）
在本文中： 政府的财政预算案
在本文中： 借贷、借款
在本文中： （债券的）收益率
片语包含类型标示、双语定义、用法说明和例句。
delayed, paused, or kept unchanged temporarily
暂时保留、维持不变、延期
the percentage of an amount of money that is charged by a bank or other financial institution for lending money
利率
an unexpected event that suddenly changes the supply of a product or commodity, resulting in an unforeseen change in price
供应冲击
the rate of return an investor expects to earn each year over the life of a bond
债券殖利率 / 债券收益率
to take action in order to solve a problem or handle a situation
处理、应对