China says will develop stable interest rate corridor

BEIJING, Dec 1 (Reuters) - China will develop a stable interest rate corridor to help make its monetary policy stable but more flexible, Deputy Governor of the People's Bank of China Yi Gang said on Tuesday.

Yi said the yuan's inclusion into the International Monetary Fund's (IMF) benchmark currency basket would have limited impact on the framework of China's monetary policy.

Yi's remarks came after the IMF admitted the yuan, also known as the renminbi, into its Special Drawing Rights (SDR) basket alongside the dollar, euro, pound sterling and yen, in a key step for China's integration into global finances.

(Reporting By Xiaoyi Shao and Beijing Monitoring Desk; Editing by Kim Coghill)

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