FRANKFURT: The European Central Bank (ECB) on Thursday (Friday in Manila) announced it was ready to act early next year should the euro area show signs of tipping into deflation and kept its key interest rates at record lows unchanged.

At its final policy meeting of the year, the ECB held its main "refinancing" rate steady at 0.05 percent, and its two other rates—the marginal lending and the deposit rates—at 0.30 percent and minus 0.20 percent, respectively.

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