The Swiss National Bank (SNB) has increased its willingness to intervene in foreign currency markets after the conflict in the Middle East pushed the Swiss franc to its highest level against the euro in over a decade. The rise in the franc could push inflation negative and negatively impact Swiss exporters. The SNB made a rare verbal intervention to counter the increase, signalling its intention to intervene. The last time the bank made such a statement was in 2016 after Britain's vote to leave the EU triggered a spike in the currency. However, analysts predict that while the SNB will sell francs to slow the appreciation, it will not take interest rates below the current 0% level.