Bank of England kept its interest rate unchanged at 0,75% after it raised it to the highest level since 2009 last month, Bloomberg reports.

Leaders of the Bank noted that economic activity in the country was higher than expected. Economy growth in third quarter will be 0,5% instead of 0,4% forecasted in August.

It looks like consumer spending and pay were also higher than in the last forecast.

Bank confirmed its position that in order to return inflation to target level in 2%, limited and gradual increase of interest rates in next few years will be needed. Investors predict next increase by quarter of percent in May.

Bank’s committee also pointed out that there are rising risks of downside global growth due to intensifying trade conflict and higher volatility of emerging markets.