The Bank of England has kept the interest rates at the historic low of 0.5%. January is the 70th consecutive month beginning in March 2009 for the record rates.
The Monetary Policy Committee (MPC) also decided to keep the size of the Bank's economic stimulus programme, known as quantitative easing (QE), unchanged at £375bn.
Analysts had expected rates to begin rising in 2015, but the UK’s low inflation and the eurozone’s entry into deflation may be holding back a change.
Last month inflation in the UK fell to 1% and has been below the Bank’s 2% target for 11 months.
Manufacturing and construction data also indicated a slowdown in December.
On the other hand, rising wages and better household disposable income will increase consumer demand. This could encourage the Bank of England to raise interest rates.
