Bank of England Governor Mark Carney held a press conference following the U.K. central bank's decision to leave interest rates unchanged on Thursday.
Policymakers at Threadneedle Street voted 7-2 to keep rates on hold at 0.5 percent.
Carney said that the U.K. economy had not fulfilled projections laid out in the bank's February meeting. During that meeting, the bank signaled that interest rates could come earlier and may have to be larger than previously predicted.
Carney noted that one-off factors such as adverse weather conditions may have been a factor in a softening of economic growth at the start of the year. He said that the underlying pace of growth remained more resilient than headline data suggested.