The Bank of England has kept interest rates on hold at 0.5% and announced no new extension to their £375bn asset purchase programme of quantitative easing.
This widely expected decision at the latest meeting of the Monetary Policy Committee comes following recent splits over whether to increase QE.
Many analysts believe that no changes will be made until the new Bank governor, Mark Carney, takes over in July.
The meeting today was the last to be chaired by current Bank governor, Sir Mervyn King.
At the last meeting, three of the nine members of the Monetary Policy Committee, including King, voted to increase QE from its current level with an additional £25bn of asset purchases.
The outlook for the UK economy remains reasonably mixed, with falling retail sales figures and rising unemployment.
Other economic surveys have suggested an improvement in the state of the British economy during recent months.
Interest rates have remained at their current record low of 0.5% since March 2009.
The markets have not priced in an interest rate rise until the middle of 2015 at the earliest, suggesting that interest rates will very stay low in the short and possibly medium term.
