The European Central Bank (ECB) on Thursday held interest rates at record low and vowed to pursue price stability and safeguard financial stability, as the eurozone braces for the fallout of the Russia-Ukraine conflict. 

The ECB announced that its benchmark refinancing rate will remain at 0 percent, while the rate on its marginal lending facility sits at 0.25 percent and that on its deposit facility at -0.5 percent. 

(Cover: Flags of the European Union outside the headquarters of the ECB in Frankfurt, Germany, December 16, 2021. /CFP)