the peoples bank of china has cut several key policy rates to bolster economic growth in the worlds secondlargest economy the peoples bank of china cut another key policy rate on tuesday for the first time in 10 months as the worlds second largest economy shows signs of stalling the latest rate cut come on the heels of two previous easing moves last week as authorities seek to prop up growth the chinese central bank cut the oneyear loan prime rate by 10 basis points from 365 to 355 and trimmed the fiveyear loan prime rate by 10 basis points from 43 to 42 for the first time since august