Bank of England sees recovery signs but stresses outlook still unclear

The BoE kept its benchmark interest rate at an all-time low of 0.1%

The Bank of England said there were signs that Britain's economy was recovering from its COVID-19 slump but it stressed the outlook remained unclear, dampening speculation the central bank might move quickly to tighten policy.

"Since the Monetary Policy Committee's previous meeting, the news on near-term economic activity had been positive, although the extent to which that news changed the medium-term outlook was less clear," the BoE said after its March policy meeting.

"Different MPC members placed different weights on the balance of risks around the outlook."

The easing of COVID restrictions could be lifted "somewhat more rapidly" than the BoE had thought