HONG KONG -- The announcement by China's central bank that it had pumped more funds into the financial markets may have backfired by disappointing investors expecting more expansive easing measures, some observers say.
The People's Bank of China said late Tuesday that it injected 410 billion yuan ($63.2 billion) into 22 banks via its medium-term lending facility and cut the three-month lending rate of the vehicle by 75 basis points to 2.75%.
