The Bank of England's Monetary Policy Committee has resisted calls for further quantitative easing after leaving its programme of stimulus unchanged, with interest rates also kept on hold.
Following its latest monthly meeting, the MPC said in a statement interest rates had been left at the record low level of 0.5%, with QE held at £325bn.
There had been growing expectations that, with the economy shrinking and the latest stimulus programme coming to an end, a further injection would be announced.
The Bank has opted against additional stimulus for now, despite recent woeful economic data and the worsening sovereign debt crisis in Europe.
The latest readings showed the UK economy fell back into recession in Q1, after official figures showed GDP fell by 0.2%, following on from a 0.3% contraction in the final quarter of last year.
It means the UK has seen once of the worst 'recoveries' ever from a downturn, following the recession in 2008.
However, despite this, the MPC has opted against additional stimulus.
