China's central bank announced interest cut on Saturday for the second time in less than four months, as the country's economy is expected to slow down and grow 7 percent in the first quarter of this year according to a government think tank.

The State Information Center said in a report that the move is meant to shore up the economy and stave off deflation risks.

Interest rate adjustment is often seen as one of the most direct and immediate ways to maintain healthy economic development for monetary policy makers.

Here are the past interest rate adjustments over the years between 2008 and 2015.

Feb 28, 2015

A cut to benchmark interest rate by 25 basis points, lowering one-year benchmark loan rate to 5.35 and saving rate to 2.5 percent.

Nov 21, 2014

A cut to one-year benchmark lending rate by 40bps to 5.6 percent, cut to benchmark savings rate by 0.25bps to 2.75 percent.

Year 2012

July 6

An asymmetric rate cut for the first time as benchmark lending rate was down 31bps to 6 percent, and savings rate down 25bps to 3 percent.

June 8

A 25bps rate cut to the benchmark lending and savings rate, which were brought down to 6.31 and 3.25 percent respectively.

Year 2011

July 7

A 25bps increase to the benchmark lending and savings rate, which rose to 6.56 and 3.5 percent respectively.

April 6

A 25bps increase to the benchmark lending and savings rate, which rose to 6.31 and 3.25 percent respectively.

Feb 9

A 25bps increase to the benchmark lending and savings rate, which rose to 6.06 and 3 percent respectively.

Year 2010

Dec 26

A 25bps increase to the benchmark lending and savings rate, which rose to 5.81 and 2.75 percent respectively.

Oct 20

A 25bps increase to the benchmark lending and savings rate, which rose to 5.56 and 2.5 percent respectively.

Year 2008

Dec 23

A 27bps cut to the benchmark lending and savings rate, which were brought down to 5.31 and 2.25 percent respectively.

Nov 27

A 108bps cut to the benchmark lending and savings rate, which were brought down to 5.58 and 2.52 percent respectively.