"People’s Bank of China slashed its one-year deposit and lending rates by 25bps
and 31bps respectively just a month after it cut interest rates by 25bps. Beijing also announced further easing of interest rates, with banks expected to
lower lending rates by as much as 70% against benchmark rates." Further expectations are for the bank RRR (required reserve ratio) to be cut by another 50bps in 3Q
