双语新闻：利率和存款准备金率可能会被下调
China may need additional monetary easing measures such as cutting interest rates or the reserve requirement ratio soon to facilitate the upcoming issuance of special treasury bonds, experts said on Monday.
专家周一表示，中国可能需要额外的货币宽松措施，如降息或存款准备金率，以促进即将发行的特别国债。
Other factors to be taken into consideration include lukewarm financing demand in April and persistent low price growth — situations that have attracted close attention from policymakers, they said.
他们表示，其他需要考虑的因素包括4月份融资需求不温不火和持续的低价格增长，这些情况引起了政策制定者的密切关注。
"If interest rates or the RRR are not cut this week amid the weak inflationary environment, then (I think) interest rates will be cut in June. That is, a cut in interest rates is on its way, sooner or later," said Hong Hao, chief economist at GROW Investment Group. The RRR refers to the proportion of deposits that banks must keep in cash as a reserve.
GROW Investment Group首席经济学家洪浩表示：“如果在通胀环境疲软的情况下，本周不降息或降准，那么（我认为）6月份就会降息。也就是说，降息迟早会到来。”。RRR指的是银行必须以现金作为准备金的存款比例。
The People's Bank of China, the country's central bank, is due to unveil the medium-term lending facility rate — the policy benchmark for interest rates — on Wednesday, after the Ministry of Finance released on Monday the issuance schedule of ultra-long-term special treasury bonds worth 1 trillion yuan ($138 billion).
财政部周一公布了价值1万亿元人民币（1380亿美元）的超长期特别国债的发行时间表后，中国央行中国人民银行将于周三公布中期借贷便利利率——利率的政策基准。
The issuance schedule spans from this month to November and begins with the issuance of 30-year bonds on Friday. Bonds with 20-year and 50-year tenors will be offered from May 24 and June 14, respectively, the ministry said.
发行时间表从本月到11月，从周五发行30年期债券开始。财政部表示，20年期和50年期债券将分别于5月24日和6月14日发行。
Hong said the ultra-long-term special treasury bond issuance represents a meaningful expansion in the fiscal deficit that the market is looking for, which will help rejuvenate the credit cycle and help achieve the annual economic growth objective of around 5 percent.
洪说，发行超长期特别国债是市场预期的财政赤字的一次有意义的扩大，这将有助于振兴信贷周期，并有助于实现5%左右的年度经济增长目标。
Shao Yu, a board member of the Shanghai Institution for Finance & Development, a think tank, said policy coordination from the PBOC is needed to ensure the efficacy of the bonds in bolstering the economy.
智库上海金融发展研究所董事会成员邵宇表示，需要中国人民银行的政策协调，以确保债券在提振经济方面的效力。
With the issuance of ultra-long-term government bonds to generate more demand for liquidity, the PBOC needs to take more easing measures to maintain low financing costs for the government bonds and the real economy, Shao said.
邵表示，随着超长期政府债券的发行，以产生更多的流动性需求，中国人民银行需要采取更多的宽松措施，以保持政府债券和实体经济的低融资成本。
邵表示，随着超长期政府债券的发行，以产生更多的流动性需求，中国人民银行需要采取更多的宽松措施，以保持政府债券和实体经济的低融资成本。
