The Bank of England (BoE) kept interest rates at 4.5 per cent for the seventh month running today.
All 40 analysts polled by Reuters last week had predicted no change at this month's Monetary Policy Committee meeting, but many said slow economic growth would prompt another rate reduction perhaps as soon as May.
News since then of rising house prices, the services economy expanding at the strongest pace in nearly two years and even manufacturing output rising three months running has raised doubts about whether the economy needs a monetary boost, however.
The global economy is on the mend too.
Earlier today, the Bank of Japan ended five years of super-loose monetary policy.
The European Central Bank raised interest rates last week and the US Federal Reserve has shown no sign it is about to end its tightening campaign.
The BoE has appeared relatively happy with the current policy stance. Its latest quarterly forecasts showed economic growth rebounding and inflation sticking close to its 2 per cent target over the next two years.
