Editor's Note: The central bank cut interest rates for a second time in a month, fueling concerns that the growhth of the world's secondlargest economy is weaker than predicted. Experts expected theseĀ interest rates cutsĀ to bolster the economic growth. 
China's swap rate has climbed to a threemonth high, reflecting a worsening cash crunch as the central bank refrains from easing lenders' reserve requirements.
The People's Bank of China lowered benchmark deposit rates on July 5 by 25 basis points and cut lending rates by 31 basis points, effective from July 6.
China's central bank said Sunday it will strengthen the finetuning of its monetary policy in the second half of this year.
China will lower banks' reserve requirement ratio by 0.5 percentage points starting May 18, the country's central bank announced.
The eurozone currencies record their biggest falls against the dollar since 1998, but the yuan is well placed to appreciate.
Changes in Reserve Requirement Ratios Since 2010 

2012 July 6 Oneyear deposit rate was lowered by 0.25 of a percentage point, and oneyear lending rate was cut by 0.31 of a percentage point.
June 8 Oneyear deposit and lending rates were lowered by 0.25 of a percentage point.
2011 July 7 Oneyear deposit and lending rates were raised by 0.25 of a percentage point.
June 20 The reserve requirement ratio was increased by half of a percentage point.
May 18 The reserve requirement ratio was increased by half of a percentage point.
April 6 Oneyear deposit and lending rates were raised by 0.25 of a percentage point.
March 25 The reserve requirement ratio was increased by half of a percentage point.
February 24 The reserve requirement ratio was increased by half of a percentage point.
February 9 Oneyear deposit and lending rates were raised by 0.25 of a percentage point.
January 20 The reserve requirement ratio was increased by half of a percentage point. 
Changes in Interest Rates Since 2010 
