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Aug 15, 2022

When most global interest rates are rising, China cuts

From the BBC World Service: The People’s Bank of China cut its benchmark interest rate for the second time this year, in a surprise move after data showed slower than expected economic growth in July. Plus, South Korea promises aid to North Korea if the country stops developing nuclear weapons. And, a year after the Taliban seized power in Afghanistan, many women and girls are still excluded from work and formal education.

The People's Bank of China cut its benchmark interest rate by one tenth of a percentage point to 2.75%.
The People's Bank of China cut its benchmark interest rate by one tenth of a percentage point to 2.75%.
Kevin Frayer/Getty Images

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When most global interest rates are rising, China cuts