ANKARA
The Bank of England announced Thursday that it was holding interest rates at current levels of 0.5 percent.
The rate has been at that level since March 2009.
The bank also maintained its bond-buying stimulus program at the same level of £375 billion ($576 billion).
Growth was currently weak in the U.K., with the Gross Domestic Product growth at 0.3 percent in the first quarter.
The inflation rate was still close to zero percent. The bank was targeting close to 2 percent inflation as the principal factor in a decision to raise interest rates.
In the minutes of the bank's Monetary Policy Committee last month, the bank cited uncertain global conditions and continuing low inflation as the reasons for keeping rates at current levels.
Low levels of productivity continue to trouble the progress of the U.K. economy, the bank said last month.
Nor were exports likely to give a boost. "This year is turning into a real challenge for U.K. exporters. The value of U.K. exports of goods and services fell by 1 percent year-on-year in the first quarter. Conditions are unfavorable not least because of the slowdown in many emerging markets and, as yet, exporters are yet to feel the benefit of the nascent eurozone recovery," analysts at the Royal Bank of Scotland said in a note published Thursday.
"The persistence of those headwinds, together with the legacy of the financial crisis, meant that Bank Rate [key interest rate] was expected to remain below average historical levels for some time to come," the bank said the previous month.
