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Norwegian to English: International Economy - NHH Test Paper General field: Bus/Financial Detailed field: Finance (general)
Source text - Norwegian Norwegian text
Den intemasjonale nedgangskonjunkturen har akselerert i løpet av høsten. Nedgangen rammer bredt. og ingen land eller områder ser ut til å kunne agere som motkraft.
Kredittmarkedene fungerer ikke normalt. selv om sentralbankene har satt ned slyringsrentene og tilført store mengder likviditet. Problemene startet allerede høsten 2007. men eskalerte dramatisk gjennom nasjonalisering av de amerikanske boliglånsgigantene Fannie Mae og Freddie Mac og forsikringsselskapet American International Group, og særlig da amerikanske myndigheter lot Lehman Brothers gå over ende i midten av september. Dette har bidratt til en kraftig nedgang i aksjemarkedene og en ytterligere svekkelse av tilliten i finansmarkedene.
Banksektoren har store problemer. Resultatet har blitt strengere utlånspraksis og høyere lånekostnader. Til tross for at sentralbankene har økt tilførselen av likviditet. er differansen mellom styringsrenter og pengemarkedsrenter fortsatt på et meget høyt nivå. Virkemidlene i pengepolitikken er i stor grad rettet mot å få kredittmarkedene til å tungere mer normalt og evnen til å stimulere økonomien i tradisjonell forstand er i mellomtiden svekket.
Translation - English English Translation
The global recession has gained momentum during the autumn. The downturn has had a broad impact and it would appear that no country or region has been able to muster any resistance.
The credit markets are not operating normally, even though the Central Banks have reduced the key lending rate and supplied high-volume liquidity. These problems started as early as the autumn of 2007, but escalated dramatically following the nationalisation of the American mortgage giants Fannie Mae and Freddie Mac and the American International Group insurance company. It was particularly critical when the American authorities allowed Lehman Brothers to go under in the middle of September. These factors have contributed to a heavy decline in the Stock Markets and an even greater weakening of confidence in the finance markets.
The banking sector is experiencing considerable problems. This has resulted in the banks tightening their lending policies and an increase in borrowing costs. In spite of the Central Banks’ increased capital infusion, the difference between the key lending rate and inter-bank rate of interest has remained at a very high level. The measures in monetary policy are, to a great extent, aimed at making the credit markets function more normally, and the ability to stimulate the economy in the traditional sense are, in the meantime, weakened.
Master's degree - Institute of Translation and Interpreting (ITI)
Years of translation experience: 20. Registered at ProZ.com: Feb 2011.
I studied both French and Spanish at University in the U.K. and it was here I learnt translating techniques.
I have lived and worked in several countries, acquiring a further knowledge of practical Spanish in particular. It was in Spain I met and married my Norwegian husband and we relocated to Norway in the seventies
I spent some time as a homemaker learning Norwegian to the stage where I am now a qualified, and experienced, Norwegian-English translator. I have since had several interesting periods of employment as an all-round staff translator both in Norway and in Zambia and the U.S.A. My latest employment was as Manager of a Public and School Library which I combined with freelance translation. I have been a full-time freelance translator since 2011 and believe that my varied working experience, particularly in the field of business, has been of benefit to my work as a translator.
Recent work includes the translation of a PhD Thesis and a scientific article for publication (from nynorsk).