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China Shocks With Rate Cut as Data Show ‘Alarming’ Slowdown

  • Central bank surprises by cutting key interest rates
  • Retail, industrial output, investment data miss estimates
Bloomberg business news

WATCH: China’s Domestic Demand Is Still Pretty Weak: Qiao

Source: Bloomberg

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China’s economic slowdown deepened in July due to a worsening property slump and continued coronavirus lockdowns, with an unexpected cut in interest rates unlikely to turn things around while those twin drags remain.