On the one hand, although policies of raising interest rates and the deposit reserve requirement ratio have been introduced, it is impossible to change the situation of excess liquidity.

一方面，虽然提高利率和存款准备金率的政策已经出台，这是不可能改变流动性过剩局面。

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We believe that tightening in the form of a hike in both deposit and lending interest rates, or yet another hike in the reserve requirement ratio, is imminent.

我们相信，以同时提高存贷款利率或再度提高存款准备金率为形式的紧缩手段即将到来。

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