MNI BRIEF: PBOC To Increase Role Of Price Tools - Deputy

The People’s Bank of China will downplay quantitative targets and focus more on price-based tools like interest rates in future, Deputy Governor Xuan Changneng said at the Central Bank of Iceland's Annual Economic Conference, according to a statement on the PBOC website Tuesday.

Xuan noted that officials aim to enhance the market-based, interest-rate framework and work to clarify the 7-day reverse repo rate as the main policy benchmark.