UK, European interest rates hold steady
Central bank leaves key rate at 0.25%
Canada tied to fragile U.S. recovery
Strong Canadian dollar would reduce real growth
Most likely scenario is that the real estate market will cool
Global monetary policy cycle is turning
GDP growth in second half of 2009 could beat projections, bank says
Bank expected to maintain conditional commitment to keep target rate at 0.25% to mid-2010
U.S. economy likely to remain weak
But the BoE signalled it is still concerned that the economy does not yet have enough stimulus in the pipeline