Goldman Sachs expect 15bp rate cuts from the People's Bank of China today

The People's Bank of China will be cutting loan prime rates today, from earlier:

• Economic calendar in Asia - People's Bank of China rate decision due

Last week we had rate cuts from the People's Bank of China:

• People's Bank of China set MLF rate at 2.5%, big cut from prior 2.65%
• The People’s Bank of China cut the reverse repo rate from 1.9% to 1.8%.
• ICYMI: China with three rate cuts in one day to try and bolster the economy

ING expect 15bps:

• Forecast for two 15bp rate cuts to come from the People's Bank of China on Monday

Goldman Sachs, too are 15bp cuts to the LPRs. Current LPR rates are:

• 3.55% for the one year
• 4.20% for the five year

Barclays is also at 15bp cuts.

If we get 15bp rate cuts the one year will move to 4.2%, a new low.

Earlier news from China:

• Weekend - the PBOC met with bank executives and told lenders, again, to boost loans

The PBOC decision is due at 0115 GMT, which is 9.15 pm US Eastern time.