PBOC Zhou: Will gradually develop an interest rate corridor

PBOC Governor Zhou continues to cross the wires, noting that the Central Bank will gradually develop an interest rate corridor.

Headlines

Says no worries about external payments despite falls in FX reserves

Capital outflows could become reasonable if confidence improves on china economic growth, structural reforms

Interest rates will play a bigger role in monetary policy

Will gradually develop an interest rate corridor

Monetary policy will mainly focus on China's economic conditions, rather than external factors

Says he opposes competitive currency devaluations to