While avoiding mention of specific exchange-rate or possible intervention levels, European Central Bank President Jean-Claude Trichet gave the clearest signal yet Monday that euro-zone policymakers are growing increasingly concerned about the strength of the single currency and won't sit on their hands indefinitely.
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Meanwhile, Rosediana Suharto, the director-general of research and development in Indonesia's Ministry of Trade, who chaired the two-day Inro council meeting which ended yesterday said : " If the five-day DMIP average reaches the intervention level, Inro may buy or sell rubber to stabilise market prices ."
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But Thailand must not forget that it had willingly ratified the agreement and consented to the market price intervention level that came with Inra III . Malaysia, too, had willingly ratifed Inra III . The reason why producer countries in this region are finding the level unrealistic is because of the prolonged financial crisis.
