On Monday, China's central bank, the People’s Bank of China (PBOC), lowered the one-year Loan Prime Rate (LPR) to 3.45% from 3.55% previous as expected.

It's worth noting that the PBoC previously cut the Medium-term Lending Facility (MLF), Standing Lending Facility rates (SLFs) and the the Reverse Repo Rates to infuse liquidity into the world's second largest economy.

The PBOC announcements were mostly expected after the last week's actions from the Chinese central bank.