In the passage given below there are 5 blanks, each followed by a word given in bold. Even blank has four alternative words given in options (A),(B),(C) and (D). You have to tell which word will best suit the respective blank. Mark (E) as your answer if the work given in bold after the blank is your answer i.e “No change required”.
A Sense that things are (1)_____ [launching] out of control has gripped Turkey since prosecutors launched a series of investigations into bribery and corruption close to the government in mid-December. Even if official charges and convictions never (2)______ [proof] , enough has come out to unsettle foreign and local investors. It casts serious doubt on the independence of the country’s police and the judiciary, and their ability to enforce the law.
Turkey suddenly looks more like the country it was trying to leave back in the (3)_____ [history] a dozen years ago. Inflation is running at over 7%, the currency is sliding and the current-account deficit is around 7% of GDP. Private savings, foreign investment and exports are shrinking.
What is to be done? Ask any orthodox economist and he will probably say, “first raise the headline interest rate,” which Turkey’s central bank has held obstinately below 8% since last March . The central bank’s lending rate should be a good 11%, calculates Murat Ucer at Istanbul Analytics, a consultancy.
Extraordinarily, however, this vital tool of monetary policy is not one that the central bank is (4)______ [preferred] to use at the moment. It prefers an alternative technique, known as the reserve-option mechanism. This allows Turkish banks to keep part of their reserve requirements in foreign currency rather than in Turkish lira. When foreign money was flooding into the country this was a good way of relieving upward pressure on the lira. But with the currency weakening it makes little sense—except as a way of unsettling investors.
Exasperated economists blame Recep Tayyip Erdogan, the mildly Islamist prime minister, for this (5)_________ [liking] to raising the interest rate. He is on record as saying that banks’ interest frates should be the same as the rate of inflation, but no more. The central bank is not independent enough to gainsay him. Most forecasters predict that Mr Erdogan’s distaste for higher rates will prevail at least until after local elections to be held on March 30th.
- A) stopping
B) sliding
C) inching
D) pushing
E) No change required
- A) occur
B) happens
C) settle
D) materialise
E) No change required
- A) dimness
B) shadows
C) light
D) situation
E) No change required
- A) prepared
B) argued
C) criticized
D) flooded
E) No change required
- A) desire
B) aversion
C) hostility
D) respect
E) No change required
In the passage given below there are 5 blanks, each followed by a word given in bold. Even blank has four alternative words given in options (A),(B),(C) and (D). You have to tell which word will best suit the respective blank. Mark (E) as your answer if the work given in bold after the blank is your answer i.e “No change required”.
TO ATONE for the gravest misdeeds, according to Catholic tradition, a sinner must spend seven years in purgatory. Bankers had hoped that, after seven years of penance for their part in the financial crisis, the end of wrenching overhauls forced by fierce new regulations might be (6)_____ [usual] . But to their dismay, the regulators’ zeal is (7)______ [interrupted] . Far from giving banks (8)_____ [chase], they are toughening up old rules and devising new ones, perhaps heralding a new wave of restructuring.
Take the vexed question of the level of capital banks should hold to guard against future losses. Higher capital ratios, which force banks to fund their loans and investments more with equity and less with money borrowed from investors or depositors, are one of the main reasons returns have fallen since the crisis . Yet regulators are still tinkering. They have (9)______ [thrown] at least four new measures of the strength of banks’ balance-sheets since the crisis, including one due to be finalised by the G20, a club of the world’s biggest economies, in November. These all come on top of the higher capital standards included in the latest international agreement on banking regulation, known as Basel III.
One of the most contentious of the new tests is the leverage ratio, which will limit a bank’s loans and investments to a certain multiple of its capital, without taking into (10)______ [account] how risky they are. Regulators in many jurisdictions have said they will adopt a maximum leverage ratio, but have not yet decided what the all-important multiple will be.
6.A) high
B) nigh
C) similar
D) changed
E) No change required
7. A) low
B) reduced
C) undimmed
D) changing
E) No change required
8. A) stop
B) halt
C) challenge
D) respite
E) No change required
9. A) hampered
B) forged
C) devised
D) stopped
E) No change required
10. A) credit
B) score
C) graph
D) service
E) No change required
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