The UK is in a sustained recovery and does not face major inflation risks, Bank of England policymakers have said.
Minutes from the Monetary Policy Committee's November meeting showed the nine members all voted to leave interest rates at 0.5%.
The committee also signalled that it was in no rush to raise interest rates and might not do so immediately even after unemployment had fallen to 7%. Last week, the bank said unemployment could fall faster than predicted.
The committee said there were uncertainties over the "durability" of the recovery. It also said there were few signs that expectations of higher inflation were feeding into wage increases.
The Bank of England said: "There could be a case for not raising Bank Rate immediately when the 7% unemployment threshold was reached."
The committee also decided not to add to its monetary stimulus programme of quantitative easing (QE), under which it has already made £375bn of bond purchases between March 2009 and October 2012.
bbc.co.uk
Minutes from the Monetary Policy Committee's November meeting showed the nine members all voted to leave interest rates at 0.5%.
The committee also signalled that it was in no rush to raise interest rates and might not do so immediately even after unemployment had fallen to 7%. Last week, the bank said unemployment could fall faster than predicted.
The committee said there were uncertainties over the "durability" of the recovery. It also said there were few signs that expectations of higher inflation were feeding into wage increases.
The Bank of England said: "There could be a case for not raising Bank Rate immediately when the 7% unemployment threshold was reached."
The committee also decided not to add to its monetary stimulus programme of quantitative easing (QE), under which it has already made £375bn of bond purchases between March 2009 and October 2012.
bbc.co.uk
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