大幅

Inflation has declined substantially.

There has been a sharp devaluation of the yen .

Heavy gains were recorded on the stock exchange.

steep rise in price

increase production by a big margin

make major cuts in budget; make severe budget cuts

slip significantly

hike interest rate; raise interest rates sharply

go up/rise sharply

slash out prices; make massive reductions in prices

make massive/savage tariff cuts

cut staff drastically