双语新闻播报（April 25）

> Inflation rebound in US deepens monetary policy divide with Europe
美国通胀超预期反弹加大欧美政策分歧

Recent US Department of Labor data show that the consumer price index in the United States rose 3.5 percent year-on-year in March, up 0.3 percentage points from the growth in February, and the core CPI rose 3.8 percent year-on-year and 0.4 percent month-on-month, both exceeding expectations for three consecutive months.
美国劳工部近日公布的数据显示，3月份美国消费者价格指数（CPI）同比上涨3.5%，涨幅较2月份扩大0.3个百分点。同时，核心CPI环比上涨0.4%，同比上涨3.8%，核心CPI的这两项指标涨幅已连续3个月超预期。

The higher-than-expected CPI indicates that the rebound in US inflation since the beginning of the year is not temporary. 
CPI持续超预期回升，表明年初以来美国通胀反弹并不是暂时现象。

The minutes of the US Federal Reserve's monetary policy meeting in March also show that the Fed will not cut interest rates until it is confident inflation is steadily returning to the target level.
4月10日公布的美联储3月货币政策会议纪要也显示，在确信通胀稳步回归目标水平之前，美联储不会降息。

Analysts point out that the continued rebound in US inflation has had many impacts on the US and global markets. 
分析指出，美国通胀持续反弹，给美国和全球市场带来了多方面影响。

With inflation data rebounding, market institutions have to reassess the Fed's policy path, with Wall Street traders expecting the Fed to keep rates higher for longer. 
随着通胀数据反弹，市场机构不得不重新评估美联储的政策路径。华尔街的交易员预计美联储可能将高利率维持更长时间。

There is speculation that the Fed may raise rates again.
更有观点认为，美联储甚至可能再度加息。

Jamie Dimon, chairman and CEO of J.P. Morgan Chase, said, "We are ready for the Fed to raise interest rates to as high as 8 percent".
摩根大通董事长兼首席执行官杰米•戴蒙甚至声称，“已为美联储最高将利率上调至8%做好了准备”。

After the March inflation data were released, US President Joe Biden broke the practice of not commenting on the Fed's decision, saying he believed the Fed will cut rates by the end of the year. 
在3月份通胀数据公布后，美国总统拜登打破了不对美联储决策发表评论的惯例，认为美联储“年底前将降息”。

Analysts say that Biden's remarks reflect that the US economy is unable to withstand continued high interest rates, and the "resilience" of the US economy may not be as strong as claimed by the Fed.
有分析认为，这反映出美国经济难以承受持续高利率的重压，所谓美国经济的“韧性”恐怕并没有美联储对外声称的那么强。

As expectations of US interest rate cuts subside, the divergence between European and US monetary policy will widen. 
由于美国降息预期回落，欧美货币政策之间的分歧也在扩大。

If the European Central Bank cuts interest rates before the Fed does, it could cause the euro to fall sharply and European enterprises to pay more for dollar-denominated imports, which would fuel inflation again.
如果欧洲央行先于美联储降息，可能导致欧元大幅贬值，企业则必须为以美元计价的进口产品支付更多成本，这将再度推升通胀。

ECB has intensified efforts to shed the impression that it follows the US in terms of monetary policy. 
另一方面，欧洲央行近期试图摆脱多年来在货币政策上对美亦步亦趋的形象。

Therefore, it is believed that ECB, fearing the economy could lose steam, may cut interest rates before the Fed does in June.
市场认为，在经济失速的压力之下，欧洲央行有可能先于美联储在6月降息。

The US inflation data are an important indicator of the country's and even global economic trends. 
美国通胀数据是观察美国经济乃至全球经济走势的重要指标。

However, there have been more signs that inflation data have gradually been used by the US government and the Fed to influence market expectations. 
然而，越来越多的迹象表明，通胀数据已逐渐变成美国政府和美联储左右市场预期的工具。

The question is, as US federal government debt approaches $35 trillion, how long can this tool be wielded?
只不过，随着美国联邦政府债务规模快速向35万亿美元逼近，这件工具还能用多久呢？

> China's performance market scales new heights in 2023
2023年全国演出市场总体经济规模创新高

The scale of China's performance market reached 73.99 billion yuan (about $10.42 billion) in 2023, hitting a record high, according to the China Association of Performing Arts.
据中国演出行业协会数据，2023年全国演出市场总体经济规模超739.9亿元，创历史新高。

The figure was revealed by Liu Kezhi, president of the association, at the opening ceremony of a national performing arts trade fair in North China's port city of Tianjin.
这是中国演出行业协会会长刘克智在2024中国（天津）演出交易会开幕式上透露的。

Driven by policy incentives and consumer demand, China's performance market accelerated its development in 2023, presenting gratifying changes in breaking traditional patterns and expanding its development space, according to the association.
中国演出行业协会表示，在政策鼓励和消费需求推动下，2023年全国演出市场加速发展，演出业在打破传统格局、拓展发展空间方面呈现令人欣喜的变化。

In 2023, many high-quality performances gained significant popularity, Liu noted, boosting cultural confidence in stage arts centered on Chinese narratives.
刘克智介绍，2023年，舞台精品“破圈”效应不断，舞台艺术讲述中国故事展现愈加坚定的文化自信。

A series of works centered on traditional culture, such as the musical "Qiang Jin Jiu" (Bring in the Wine) and the stage play "Journey to the West," reaped good market benefits, Liu said.
刘克智称，音乐剧《将进酒》、舞台剧《西游记》等一系列以传统文化为核心的作品收获良好的市场效益。

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