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Conflict in the Middle East could stoke upward pressure on the Swiss franc, and the Swiss National Bank should be ready to intervene in foreign exchange markets if necessary, the SNB said in the minutes of its latest rate-setting meeting, Reuters reports.
The SNB kept its benchmark interest rate on hold at 0 per cent in June, saying the medium-term price outlook had barely changed despite a recent uptick in inflation stoked by higher fuel costs stemming from the Iran war.
