China Says Monetary Policy Effective, Currency Reforms Possible

China's efforts to moderate its economic boom appear to be taking hold, central bank governor Zhou Xiaochuan said Sunday, reiterating Beijing's pledge to consider easing controls on its currency.

Zhou, governor of People's Bank of China, said the country would use a series of measures to curb excess investments in property and other booming sectors, including adjusting interest rates, banks' reserve ratios and open market operations.

Zhou, speaking on the sidelines of the annual meeting of the International Monetary Fund and World Bank, said China would keep the yuan basically stable and consider widening its daily trading band on the currency.