However, EEF recognises that the balance of recent data is increasing the prospects of a further rise at some point the near future.
Commenting on the move, EEF Chief Economist, Steve Radley, said:
“Today’s decision to hold rates will be welcomed by manufacturers as it gives the Bank more time to assess whether pay pressures are building up. However, business also recognises that another rise may be needed to keep inflation in check.”
ENDS