Here's the first rate cut - on Tuesday the PBOC cut its repo rate:

And, the second cut - the Bank followed up with another cut overnight, lowered the interest rates on its standing lending facility (SLF) by 10 basis points:

  • the rate on the overnight SLF was reduced to 2.75% (from 2.85%)
  • the rate for the seven-day SLF fell to 2.9% (from 3%)
  • that for the one-month SLF was cut to to 3.25% (from 3.35%)

Another rate cut from the PBOCis expected on Thursday: