The Bank of England (BoE) released its interest rate decision on Monday. The BoE kept its interest rates unchanged at 0.5% and its asset purchase program unchanged at £375 billion. This decision was widely expected.

The interest rate decision was delayed because of last Thursday's parliamentary election in the U.K. The Conservative Party won enough seats to take a majority in parliament.

Low inflation and weak wages weighed on the BoE's interest rate decision.

Analysts expect that the BoE will start to raise its interest rate in early 2016.

Investors are awaiting the BoE Governor Mark Carney's inflation report on Wednesday and the minutes of the monetary policy committee (MPC). The minutes of the meeting will be released on May 20.

All members voted in April to keep the central bank's monetary policy unchanged, according to MPC's meeting minutes.