Swiss National Bank says it is ready to counter excessive appreciation of franc

ZURICH, March 2 (Reuters) - The Swiss National Bank on Monday said it was increasingly willing to intervene in currency markets after the conflict in the Middle East pushed the Swiss franc to its highest level against the euro in more than a decade.

"In view of international developments, our willingness to intervene in the foreign exchange market has increased," the central bank said in a rare verbal comment on its market operations.

"We are prepared to intervene in the foreign exchange market to counter a rapid and excessive appreciation of the Swiss franc, which jeopardises price stability in Switzerland," the SNB added.