Members of the Monetary Policy Committee voted 9-0 to keep the base rate unchanged at 4.75% earlier this month, minutes reveal.
Nobody argued for an increase, as data relied on for the voting decision pointed to a short-term weakening in output in the UK, coupled with a softening housing market.
However, the minutes also reveal the Bank of England is also concerned about signs of inflation ahead.
A pound weakening on the back of falling market interest rates coupled with improving equities prices could point to higher inflation ahead, the minutes conclude.IFAonline
The increase in minimum AE contributions has had little impact on opt-out rates - with cessations after April increasing by less than two percentage points, data from The Pensions Regulator (TPR) shows.
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