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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) Residents carry their fresh produces after shopping 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) Workers clear construction rubbish from near a restaurant 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) A delivery man waits for orders near a street sign in Beijing, Sunday, Aug. 14, 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) A resident waits at a bus-stop near an ad depicting shoppers in Beijing, Saturday, Aug. 13, 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) A resident walks by towels hung up to dry on a scooter and a drying rack outside a barber shop 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) Delivery men sort out their deliveries 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) A delivery man walks near a Chinese flag after picking up an order at a mall 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) A man and a child wearing masks sit in an electric tricycle with a Chinese national flag 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) Residents pass by towels hung up to dry on a scooter and a drying rack outside a barber shop 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) Residents walk near a bazaar closed due to the rain in Beijing, Sunday, Aug. 14, 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) A delivery man transports home appliances from a delivery hub 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) Construction workers wearing masks walk to their work site 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) Residents carry their fresh produces after shopping 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)