The Bank of England has yet again kept interest rates on hold at record low of 0.5% after Britain's economy grew at a slower pace than expected in the first three months of the year.
Expectations that the central bank would maintain the rock bottom rate were bolstered by the release of data showing that the pace of growth had halved to 0.3% in the first quarter of 2015 due to a slow down in the UK's dominant services sector.
The Bank's nine-member Monetary Policy Committee voted unanimously to leave the rate where it has been for the last six years.
The minutes of the committee's latest meeting, due for release in a fortnight, will shed more light on the thinking behind the decision.
Financial markets are not predicting a rate rise until 2016 due in part to the oil price plunge, which in April took Britain into deflationary territory for the first time in 50 years.
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The U.S. Federal Reserve is expected to start raising borrowing costs this year, followed by the BoE. The European Central Bank is further behind as it is in the early stages of a major stimulus programme to revive the euro zone economy.
Last month the Bank cut its forecasts for British economic growth over the next three years.
Governor Mark Carney said it was "possible" interest rates will be higher in a year's time, as expected by markets, although the central bank would not raise them too soon and risk slowing the economy.
Additional reporting by Reuters
