China’s State Council has recommended the use of reserve ratio requirements to police deposit rates at banks now that the central bank has ended its ceiling on deposit rates, Bloomberg reported, citing a statement released by the council following a meeting this week. Officials will step up regulation of “irrational pricing activities” and limit banks’ freedom to set rates as the industry strives for self-discipline, the council said. “Real” interest-rate deregulation remains years away, said Lian Ping, Shanghai-based chief economist of Bank of Communications. Officials are on guard for any intensive competition for deposits that could increase borrowing costs for companies or lead to lenders going bust.