FRANKFURT, Oct 29 — The European Central Bank said today it was carefully assessing the evolution of the pandemic and stood ready to take further action in December as surging coronavirus infections darken the economic outlook.

"In the current environment of risks clearly tilted to the downside, the governing council will carefully assess the incoming information, including the dynamics of the pandemic,” it said in a statement.

Based on new forecasts due in December, the bank "will recalibrate its instruments, as appropriate, to respond to the unfolding situation”.

As expected, ECB governors left interest rates unchanged at historic lows and made no tweaks to their €1.35 trillion (RM6.6 trillion) pandemic emergency bond-buying scheme. — AFP