The Bank of England left interest rates unchanged at 0.5% today.Read the full story ›
Interest rates look set to stay on hold at 0.5% on Monday when the Bank of England announces its first post-election policy decision.
Rates have been at the historic low for six years and the slide in inflation to zero has pushed back expectations for the timing of a hike into 2016.
The Bank's Monetary Policy Committee (MPC) will announce its latest decision tomorrow having met on the day of the poll on Thursday and on Friday.
Meanwhile minutes of the April meeting of the Monetary Policy Committee (MPC) suggested a "hawkish" turn as it pointed to the possibility that inflation might recover more quickly than previously expected.
Consumer Price Index (CPI) inflation was at zero in February and March - rather than turning negative as some expected - meaning it might now have avoided this risk.
The Bank has said it expects CPI, which has been under pressure amid the sliding cost of oil and the supermarket price war, to turn negative "at some point the coming months".
However the latest meeting also said another cause of low inflation - the strength of the pound making imports cheaper - may have been feeding through to CPI more quickly than expected - meaning that a bounce-back could also come sooner.
The Bank of England left interest rates on hold at 0.5% today.
The Bank of England also announced it would continue with its the same level of quantitative easing - currently at £375 billion.