The Bank of England has published minutes of the Monetary Policy Committee Meeting held on 7 and 8 May 2015 where the Committee voted unanimously in favour of maintaining the Bank Rate at 0.5% and maintaining the stock of purchased assets financed by the issuance of central bank reserves at £375 billion.

The Committee said that although UK GDP had slowed further in the first estimate for 2015 Q1, survey indicators continued to suggest that the pace of growth was faster than that and it was more likely than not that the Q1 data would be revised upwards in future releases.  For two members of the Committee, the decision to hold or raise the Bank Rate remained ‘finely balanced’.

The minutes can be read in full here.