The Bank of England kept left interest rates at a record low of 0.5 percent and its asset purchase target unchanged at £375 billion as expected on Thursday.
"Unchanged monetary policy from the Bank of England was a stone dead certainty, and policy looks set to remain on hold for some considerable time to come – barring a nasty accident on the U.S. debt front," Howard Archer, Chief UK & European Economist at IHS Global Insight said. "Of course if the U.S. defaults on its debt, we could be in a whole different ball game given the likely global economic and financial market turmoil this would cause."
The focus will now shift to the minutes of the Monetary Policy Committee released in two weeks' time for an indication on any divisions over the bank's "forward guidance".
Under governor Mark Carney's leadership, the bank has said it will not consider raising interest rates from their current 0.5 percent until the jobless rate falls to 7 percent.
Disappointing industrial output data released on Wednesday showing a fall in August were an anomaly in a slew of otherwise positive data for the U.K. in recent months. The most recent figures show U.K. unemployment still stood at 7.7 percent between May and July.