Bank of England policy makers voted unanimously to keep interest rates on hold this month for the first time since July amid concerns about low inflation, minutes of their latest meeting revealed today.

The Bank of England is expected to leave interest rates on hold tomorrow following its first monetary policy meeting of the year.

Differences over the risks to Britain’s economy surfaced this month among the Bank of England officials who have voted to keep interest rates on hold, complicating the outlook for monetary policy.

Eurozone interest rates will diverge from those in the US and Britain for a number of years, according to European Central Bank (ECB) executive board member, Benoit Coeure.

The Bank of England stuck to its plan to nurse the economy back to full health with record low interest rates yesterday, despite a strong recovery and fast-rising house prices which could lead to a split among its policymakers soon.

Expectations that UK interest rates will stay on hold until well into next year were reinforced today after the Bank of England highlighted increased fears about the strength of the economic recovery.

London: British inflation held at the fastest pace since October 2008 last month as Bank of England policy maker Martin Weale repeated his call for higher interest rates.

BRITAIN’S recovery in the first quarter has been disappointing, Bank of England policymaker, Martin Weale, said yesterday, adding that the BoE’s forecasts in May could be crucial to his next vote on interest rates.

Inflation in the UK is at significant risk of pushing past 5% in the coming months, policymakers at the Bank of England warned today as surging oil prices triggered by violence in North Africa add pressure to the cost of living in the country.

Bank of England policymakers fear the shock decline in the UK economy at the end of last year may not have been temporary as consumers have continued to tighten their belts.

Bank of England policymakers are expected to shrug off inflation jitters and keep interest rates at an historic low today.

Bank of England policymakers have been urged to hold their nerve on interest rates this week, despite continued inflationary pressures in the UK economy.

President Barack Obama's State of the Union address buoyed the London market today as investors cheered moves to support growth in the world's biggest economy.

Dismal housing data from the US fuelled fears of a slowdown in global economic recovery today, rattling investor confidence and triggering a slump in stock markets.

Over 120 leading Irish and international economists, economic commentators and senior policy makers from Ireland and the North took part in the first high level North-South economic forum in Dublin today.