中文：

央行降准是指中央银行降低商业银行存款准备金率的行为。这意味着商业银行被要求存放的准备金减少，因此可以释放更多的资金用于贷款和投资。

央行降准通常被视为一种货币政策工具，旨在刺激经济增长或应对经济衰退。当经济面临下行压力时，央行可以通过降准来增加货币供应，降低贷款利率，鼓励企业和个人进行更多的投资和消费。

央行降准对于金融市场和经济运行具有重要意义。一方面，降准可以缓解银行的流动性压力，提高银行的放贷能力，从而促进实体经济的发展。另一方面，降准也可以刺激股市和房地产市场，增强市场的信心和活跃度。

但是，央行降准也存在一些风险和挑战。如果降准过度，可能会导致通货膨胀加剧，货币贬值，经济不稳定等问题。因此，央行在进行降准时需要综合考虑各种因素，保持货币政策的稳健和有效性。

英文：

The central bank's monetary policy of reducing the deposit reserve ratio (RRR) refers to the act of the central bank reducing the deposit reserve ratio of commercial banks. This means that commercial banks are required to deposit less reserve funds, so they can release more funds for loans and investments.

The central bank's monetary policy of reducing the deposit reserve ratio is usually seen as a monetary policy tool aimed at stimulating economic growth or responding to economic recession. When the economy faces downward pressure, the central bank can increase the money supply and reduce loan interest rates through reducing the deposit reserve ratio to encourage more investment and consumption by enterprises and individuals.

The central bank's monetary policy of reducing the deposit reserve ratio has great significance for financial markets and economic operations. On one hand, reducing the deposit reserve ratio can alleviate the liquidity pressure on banks, increase banks' lending abilities, and thus promote the development of the real economy. On the other hand, reducing the deposit reserve ratio can also stimulate the stock market and real estate market, enhancing market confidence and activity.

However, there are also some risks and challenges in the central bank's monetary policy of reducing the deposit reserve ratio. If the reduction is excessive, it may lead to an increase in inflation, currency depreciation, and economic instability. Therefore, the central bank needs to comprehensively consider various factors when implementing the monetary policy of reducing the deposit reserve ratio to maintain the stability and effectiveness of monetary policy.