China Cuts Interest Rates to Ease Deflation Worries.ppt

China Cuts Interest Rates to Ease Deflation Worries /china/2015-02/28/content_1座机电话号码.htm 黄源诚 1座机电话号码4 陈秋敏 1座机电话号码6 杜健 1座机电话号码8 范余娜 1座机电话号码9 G r o u p One 2015/02/28 Chinas central bank on Saturday decided to cut benchmark interest rates by 25 basis points amid deflation worries. Since March 1, the one-year loan interest rate will be lowered to 5.35 percent, while the one-year saving rate will drop to 2.5 percent, according to a statement posted on the website of the Peoples Bank of China. The central bank also decided to allow more flexibility for the interest rates. The ceiling for the floating range for the saving rate could be 1.3 times the bench mark rate, instead of the previous 1.2 times, according to the statement. A cut in the required reserve ratio announced on Feb 4 was the first across-the-board reduction since May,2012. That followed the governments official manufacturing gauge slumping into contraction for the first time in more than two years. Economic growth beat economists estimates last quarter, helping the full-year expansion remain close to the governments target. The economy expanded 7.4 percent in 2014, the slowest pace in 24 years. Price data has given scope for further monetary easing. Consumer prices rose at the slowest pace in more than five years in January and factory-gate deflation deepened with slumping commodity prices. Words and Expressions benchmark interest rates 基准利率 中国人民银行对国家专业银行和其他金融机构规定的存贷款利率。 loan interest rate 贷款利率 saving rate 储蓄率 the Peoples Bank of China 中国人民银行 ceiling 最高限度 eg：Delay the debt ceiling by 3.5 days. 可以将负债上限推迟3.5天。 Words and Expressions required reserve ratio 法定准备金率 根据规定要求银行持有的准备金与存款的比率 across-the-board 全面的 eg：Hillary Clinton, the American secretary of state, pointedly urged across-the-board reform. 美国前国务卿，Hillary Clinton，明确指出并敦促其进行全面的改革。 contraction 收缩，减缩 eg：The contraction was intense. 收缩剧烈 Words and Expressions Basis point 基本点 1个基本点为 0.01% amid 在某种背景下 He resigned amid allegations of financia