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(Bloomberg) -- China’s central bank unexpectedly reduced a key interest rate by the most since 2020 to bolster an economy that’s facing fresh risks from a worsening property slump and weak consumer spending.Most Read from BloombergRussia Calls Emergency Key Rate Meeting as Ruble PlungesHollywood Studios Offer Writers a New Deal With Push From Netflix, Iger to End StrikeOut of Options and Money, Argentina Presses the Panic ButtonTrump Indicted Over Attempts to Overturn Georgia's 2020 Presidential

China's economic activity data for July, including retail sales, industrial output and investment failed to match expectations, fuelling concern over a deeper, longer-lasting slowdown in growth. Activity data has been missing forecasts since the beginning of the second quarter, with the weakness raising worries that China's economy is coming closer to a crunch point. China came out of those with a shock boost to infrastructure investment and by encouraging property market speculation, among other measures.

(Bloomberg) -- For the second straight month, a slew of disappointing economic data from China spurred investment banks around the world to cut their 2023 growth outlook.Most Read from BloombergRussia Calls Emergency Key Rate Meeting as Ruble PlungesHollywood Studios Offer Writers a New Deal With Push From Netflix, Iger to End StrikeTrump Indictment Lays Out Sweeping Georgia Election PlotRussia’s Emergency Rate Hike Fails to Lift Ruble After CrashS&P 500 Drops Below Key Level in Late-Day Slide:

Highlights on the economic calendar from Newsquawk

Next week highlights include the US jobs report and global PMI data, as well as central bank rate decisions from the BoE and RBA.