With three interest rate hikes and six announced reserve requirement hikes since late October, a great deal of tightening may indeed be in the rear view.

鉴于去年10月末以来中国已进行三次加息和六次上调存款准备金率，众多的紧缩政策靴子已经落下。

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Furthermore, he cautioned against overplaying the potential impact of interest rate rises and further big increases to the bank reserve requirement.

此外，他还警告人们不要过分夸大加息和进一步大幅上调银行存款准备金率的潜在影响。

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