The Bank of England today voted against a rise in UK interest rates during this month's Monetary Policy Committee meeting.
Released minutes show the decision to keep rates on hold at 3.75% was reached by a majority of eight to one.
Weak inflationary pressure and concern about how a soaring euro could affect economies on the continent were key factor's in the decision.
However, the minutes signalled that another increase is not too far away, saying that if the current economic trends continued, then 'a gradual rise in interest rates would be necessary'.