Charting the global economy: China reduces key interest rate

(Bloomberg) — China's central bank unexpectedly lowered a key interest rate in a bid to invigorate an economy beset by a deepening property slump and lackluster consumer demand. Most Read from Bloomberg Data this week showed home prices in China fell for a second month in July, while industrial production and retail sales disappointed. After cutting rates on Tuesday by the most since 2020, the People's Bank of China later in the week stepped up efforts to shore up an embattled yuan. Meanwhile, economists are growing more upbeat about prospects for the US economy through 2024, according to a Bloomberg…