The Bank of England maintained its key policy rate for the sixth consecutive meeting on Thursday.
The Monetary Policy Committee decided to hold the Bank Rate at 5.25 percent again in a split vote.
The MPC remained prepared to adjust monetary policy as warranted by economic data to return inflation to the 2% target sustainably, the bank said.
The bank forecast the economy to grow only 0.2 percent in the second quarter after an estimated 0.4 percent growth in the first quarter.
Consumer price inflation is expected to return to close to the target in the near term, but to increase slightly in the second half of this year, to around 2.5 percent due to the unwinding of energy-related base effects.
Powered by Commodity Insights