英语时文阅读2.docx

第23小组：李壮壮陈舒然王晨王一婷毛志浩陈乃摇杨小倩杨光蕤推荐理由：11月21日18时30分，中国人民银行官方公布：自11月22日起下调金融机构人民币贷款和存款基准利率，即五年期以上房贷基准利率由原先的6.55%降为6.15%，相当于九四折利率优惠。这将助推房企翘尾跑量，提升房地产价格。央行降此次降息是央行自2012年7月时隔28个月后首次调整基准存贷率，并且是首次不对等的分别下调0.4个百分点的贷款基准利率和0.25个百分点的存款基准利率。降息对于房地产市场是最直接的刺激影响，一方面其相当于购房者在贷款的额度上利息上打了九四折，另一方面对于购房的心理也是一个提振。然而房地产价格在中国的许多地区已经处于较高的水平了，且债务占GDP的比重也已经到达250%,中国是否会会重蹈日本“失落的十年”房地产价格急剧下降50%的覆辙,。这是我们应该关注的问题。The People’s Bank of ChinaCovert operationsNov 22nd 2014 From FTChina’s central bank is wary（谨慎的、警惕的）of easing monetary policy, but that is what the economy needsIN BEIJING, a city of grandiose government offices, the central bank stands out for its modesty. Its headquarters（总部） are small and dated; plans for a big, gleaming extension have so far come to nothing. Cramped as they are, however, these digs are an apt symbol of the central bank’s restraint.For nearly four years the People’s Bank of China (PBOC)[1]has classified monetary policy as “prudent”[2], which is supposedly a neutral stance—not too tight, not too loose. In reality it has been tightening, to cool an overheated property market and slow the alarming accretion of debt[3]. At the same time,the central bank has chipped away at vestiges of central planning with changes to its currency and interest-rate regimes. The PBOC is far from independent, but under Zhou Xiaochuan, its governor since 2002, it has acquired real clout（影响力） as it has doggedly pursued its dual objectives of restraint and reform[4].These two aims were complementary in 2011, when the central bank first embraced prudence. Nominal growth（名义增长） was still running at 18%, a heady pace even by Chinese standards; slowing breakneck investment was essential. Yet times have changed. The economy is now on track for its weakest year since 1990, sliding below the government’s goal of 7.5% growth; inflation is at a five-year low, nearly two percentage points below the official 3.5% target. The central b