The Bank of England's Monetary Policy Committee (MPC) released its May meeting minutes on Wednesday. All members voted to keep the central bank's monetary policy unchanged.

All MPC members noted that it was appropriate to keep the monetary policy unchanged.

Two members of the nine MPC said that the decision not to hike interest rate in April was "finely balanced" between voting to hold or hike interest rate repeating comments from the last minutes.

MPC members said that the monetary policy will depend on "the prospects for inflation in the United Kingdom and would not be determined by the actions of other central banks".