The Bank of England decided to maintain its key interest rate unchanged at a record low in a split vote.
At the meeting ended October 6, the Monetary Policy Committee voted 8-1 to hold interest rate at 0.50 percent as seen in August and September, the bank said in a statement on Thursday.
Policymakers voted unanimously to maintain quantitative easing at GBP 375 billion.
The majority of members judged that the current stance of monetary policy remained appropriate. Ian McCafferty preferred to increase the Bank Rate by 25 basis points.
All members agreed that the likely persistence of the headwinds restraining economic growth following the financial crisis means that, when Bank Rate does begin to rise, it is expected to do so more gradually and to a lower level than in recent cycles.
The path of interest rate will actually follow over the next few years will depend on economic circumstances.
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