万花筒 2012-07-07&07-09 央行一个月内二次降息

 Last year there was too much tightening¹ and this year maybe they are looming² behind the curve, parts of the reason maybe the macro-numbers in China could be sometimes misleading.

Another rate cut for China. And this is the second cut in the space of a month after a year of keeping rates steady. The world's second largest economy is feeling the pitch of economic slowdown. Weak manufacturing, weak housing and now signs of weaking jobs market after a year of what has been rip roaring growth. 

With the blitz of data due on the coming week, analysts³ are really starting to wonder if there is a lot of bad news waiting in the wings. Second quarter GDP is expected to grow at its weakest pace in a three years. But it could be even worse. Will it be below 8% ? Will it be below 7.5%?

My number 7.5%, I think most likely be around 7.5% or even it will be lower. 

One area of focus will be bank lending. If that is weaker than expected, it really could bring out signs that China's economy is at a standstill.

1 tightening   

上紧，固定，紧密

参考例句：

• Make sure the washer is firmly seated before tightening the pipe. 旋紧水管之前，检查一下洗衣机是否已牢牢地固定在底座上了。
• It needs tightening up a little. 它还需要再收紧些。

2 looming   

n.上现蜃景（光通过低层大气发生异常折射形成的一种海市蜃楼）v.隐约出现，阴森地逼近( loom的现在分词 )；隐约出现，阴森地逼近

参考例句：

• The foothills were looming ahead through the haze. 丘陵地带透过薄雾朦胧地出现在眼前。 来自《简明英汉词典》
• Then they looked up. Looming above them was Mount Proteome. 接着他们往上看，在其上隐约看到的是蛋白质组山。 来自英汉非文学 - 生命科学 - 回顾与展望

3 analysts   

分析家，化验员( analyst的名词复数 )

参考例句：

• City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
• I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。