China cuts interest rate to shore up sagging economy

Elderly residents wear their masks to leave after chatting on the street in Beijing, Monday, Aug. 15, 2022. China’s central bank trimmed a key interest rate Monday to shore up sagging economic growth at a politically sensitive time when President Xi Jinping is believed to be trying to extend his hold on power. (AP Photo/Ng Han Guan)

China cuts interest rate to shore up sagging economy