BANK of England policy makers have voted unanimously to keep monetary policy unchanged, despite growing signs that Europe's third-largest economy is on the mend.
The minutes of the November 6-7 Monetary Policy Committee, published on Wednesday, showed that the nine-member panel thought the economic recovery was gathering pace.
It grew a quarterly rate of 0.8 per cent in the third quarter, however, they voiced "uncertainties over the durability of the recovery," particularly in regard to the economic outlook in Europe.
Given that backdrop, they voted to keep the Bank's key interest rate unchanged at the record low of 0.5 per cent and not to increase the monetary stimulus.
So far STG375 billion ($A645.16 billion) has been pumped into the British economy in an attempt to keep market rates low and encourage lending.
"The UK economy remained vulnerable to disorderly adjustment in the euro area and in some emerging economies," the minutes said.
Though the 17-country eurozone has emerged from its longest-ever recession, growth is muted; in the third quarter of 2013, it grew by only 0.1 per cent from the previous three-month period.
Over the past few years, the debt crisis in the eurozone has been one of the main reasons, along with a government deficit-reduction program and high levels of private indebtedness, that's held back the economic recovery in Britain.
Despite the recent pick-up in growth, the British economy remains about 2.5 per cent smaller than the start of 2008, before it slipped into its deepest recession since World War II.
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