The PBOC last cut interest rates on May 10, lowering one-year benchmark lending rates by 25 basis points to 5.1 percent, and lowering one-year benchmark deposit rates by 25 basis points, to 2.25 percent.
Weighed down by a property downturn, factory overcapacity and local debt, growth in China's economy is expected to slow to a quarter-century low of around 7 percent this year. That is down from 7.4 percent in 2014, even with expected additional stimulus measures.
While more cuts had been expected as economic growth sputters, Saturday's changes follow a plunge of 20 percent in China's stock market in the last two weeks.
