Bank of England officials discussed this month whether there was a case for an early interest rate rise, but there were concerns about hurting the recovery, minutes of their policy meeting showed on Wednesday.
The nine members of the Monetary Policy Committee voted unanimously to keep interest rates on hold, as expected by economists in a Reuters poll.
The policymakers agreed that the recovery was looking more assured, though there were some tentative signs of a slight slowdown that had been forecast for the second half of the year.
The ongoing weakness of wage growth was becoming more striking – especially against a backdrop of strong employment growth – making it hard to judge the degree of slack in the labour market.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.