Beijing signals ease of controls on interest rates

China's new central bank governor will loosen controls on interest rates further by widening the band on lending rates and experimenting with floating deposit rates in more areas, state media said Monday.

But Mr Zhou Xiaochuan also vowed to maintain the stability of the currency, the yuan, putting to rest weeks of speculation that change was on the cards.

'The central bank will study and draw up plans for the market-driven reform of interest rates,' the official China Securities Journal quoted him

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