UPDATE 1-China central bank unexpectedly cuts rates to support sputtering economy

China's central bank unexpectedly cut key policy rates for the second time in three months on Tuesday, in a fresh sign that the authorities are ramping up monetary easing efforts to boost a sputtering economic recovery. Analysts said the move opened the door to a potential cut in China's lending benchmark loan prime rate (LPR) next week. "All of these add to the urgency that policymakers need to act fast before consumer and business confidence deteriorate sharply," said Tommy Wu, senior China economist at Commerzbank.