Will only intervene if extreme volatility
Comments coming from head of the Bank Sandleris
I guess a swing from 34 to 44 or vice versa is not extreme. Sheesh.
More:
- non intervention zone will be adjusted daily
- at a rate of 3% per month until the end of 2018
- Bank will use FX reserves to intervene up to USD150m a day
Its probably not a good idea to specify the daily limit on intervention. But he has, so there.
