The Bank of England has published minutes of the Monetary Policy Committee Meeting held on 8 July 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, as expected, the Office for National Statistics (ONS) had revised UK GDP growth in 2015 Q1 up slightly, to 0.4%. Upward revisions to previous quarters had been larger, meaning that four-quarter growth to Q1 was now estimated to have been 2.9%, rather than 2.4%. Business investment growth had been revised up to 2.0%. Activity in the housing market had remained considerably weaker than thought likely a year ago, but had recently improved modestly. Dwellings investment growth in Q1 had been revised up to 2.4% and mortgage approvals in April and May had, taken together, been stronger than expected though still well below pre-crisis averages.
The minutes can be read in full here.