The Bank of England (BOE), the central bank of the country, on Thursday held the bank interest rate unchanged at 0.75 per cent.
The lender said in its March Monetary Policy Committee (MPC) report released Thursday that MPC members voted unanimously to maintain bank rate at 0.75 per cent at its meeting ending on March 20, to meet the 2.0 per cent inflation target and help sustain growth and employment.
"Since the Committee's previous meeting, the news in economic data has been mixed, but the MPC's February Inflation Report projections appear on track," the MPC noted in the report.
The MPC warned the increasing risks for British economy as a result of impasse over Brexit, by saying that it has "continued to generate volatility in UK asset prices, particularly the sterling exchange rate".
The MPC said, "Brexit uncertainties also continue to weigh on confidence and short-term economic activity, notably business investment," reports Xinhua.
The MPC said British economic outlook "will continue to depend significantly on the nature and timing "of withdrawal from the EU.
It also warned the increasing external risks in the report and said that the broad-based softening in global GDP and trade growth has continued.
