The Bank of England has left interest rates on hold at a record low of 0.5%.
Rate-setters on the Monetary Policy Committee (MPC) also left their £200 billion programme to pump money into the economy unchanged following their two-day meeting.
The decision comes after the first policy split on the MPC since November was seen last month when Andrew Sentance voted to hike rates to tackle inflation, currently above the Bank's 2% target at 3.4%.
But fellow committee members have warned it is too early to act, with the recovery still uncertain and British Chancellor George Osborne's Budget likely to slow the economy.
Mr Sentance, whose vote last month was the first call for a rate hike in nearly two years, believes there are enough recovery signs in the economy to absorb a rise.
But recent survey data have flagged up slowing growth among manufacturers and services firms, casting doubt over the sustainability of the recovery.
Fellow MPC member Adam Posen has said he was kept awake at night by the risks of slashing too swiftly, while committee colleague David Miles also believes it is too early to move.
The slew of disappointing economic data has not been confined to the UK, with worries over slowing growth in China adding to recent stock market tremors as well as concerns over prospects in the euro zone as nations address their own deficits.
