Measures in place to cushion slowdown

PBoC injects more liquidity into financial system

SHANGHAI: China’s central bank injected billions of yuan through medium-term loans into the financial system yesterday, which many market participants interpreted as an effort to prop up the economy, although the cost of such borrowing was left unchanged.

Widening outbreaks of the Delta variant across the country, torrential rains and flooding, and slowing economic growth momentum suggested by recent data all required more easing measures to cushion the slowdown, analysts say.