"China's Unexpected Rate Cuts Tackle Economy's Confidence Crisis"

China's central bank unexpectedly cut interest rates and injected liquidity into the economy as policymakers aim to boost growth and address a "confidence crisis." The rate cuts come after disappointing July data, including sluggish industrial output and retail sales. China is facing a slump in its real estate sector, and policymakers have announced targeted measures to stimulate consumption and investment. However, economists suggest that more aggressive stimulus may be needed to stabilize economic growth.