The Bank of England opted to hold base interest rates at record lows on Thursday and to maintain the size of its newly enlarged asset-purchasing program.
The bank's Monetary Policy Committee (MPC) voted unanimously in September to hold the base rate at 0.25 percent, which was cut in August. It also voted unanimously to maintain the size of its corporate bonds purchases at up to £10 billion ($13.2 billion) and government bond purchases at £435 billion.
In addition, it upgraded its growth forecast for the third quarter to 0.3 percent from 0.1 percent, which it predicted last month.
"Since the August inflation report, a number of indicators of near-term economic activity have been somewhat stronger than expected. The committee now expect less of a slowing in U.K. GDP (gross domestic product) growth in the second half of 2016," the bank said in the minutes from its latest meeting.
It added that so far there had been no sign of a major hit to the global economy from the U.K.'s vote to leave the European Union in June.
U.K. data has improved since the bank introduced the large batch of stimulus measures last month to boost the economy following the shock of the leave vote. Official retails sales data for August came in stronger than expected on Thursday and last month's Markit/CIPS U.K. services Purchasing Managers Index (PMI) rebounded sharply from July's 89-month low. However, it is unclear how long the upbeat data trend will last.
The minutes showed that the majority of members expected to vote for a further cut in the base rate before the end of the year. This would likely take the rate to just above zero.