China’s central bank governor Zhou Xiaochuan is planning a policy anchor for money-market rates, Bloomberg reported, citing a transcript of a speech Zhou made published in local media. The move comes as rapidly fluctuating borrowing costs have aggravated a slowdown in the world’s second-largest economy. Zhou is considering a system where the central bank drains or adds funds if the policy rate deviates to the limits of a range from a midpoint. The seven-day repurchase rate, the benchmark short-term borrowing cost between banks, has seen its 100-day volatility come close to the highest since 2011.