The Bank of England took a "wait and see" stance Thursday on the country's hesitant economic recovery, holding interest rates at a record low of 0.5 percent and keeping its asset-purchase program to boost the money supply on ice. The decision from the Monetary Policy Committee, which marks the 12th consecutive month it has held rates steady, had been widely anticipated after a month of mixed signals on the economy as Britain heads out of its worst recession in decades. Statistics out last month showed that the economy is growing again slightly faster than thought after officially exiting recession at the end of last year -- but they also revealed that the extent of the 18-month downturn was deeper than previously forecast. "We expect the Bank of England to keep interest rates down at 0.5 percent through 2010 given likely persistent concerns about the strength and sustainability of the recovery," said IHS Global Insight economist Howard Archer. "The economy seems destined to go through many more twists and turns over the coming months." Bank of England Governor Mervyn King has joined commentators in expressing concerns about the recovery and members of the Monetary Policy Committee have dropped hints that the bank could resume its asset-purchasing program if it fails to gain traction. The bank halted the program, known as quantitative easing, in February after buying around 200 billion pounds of assets, mostly gilts. A recent spike in inflation, to 3.5 percent last month, was likely a major factor in staying the bank's hand this month. The meeting also came amid weakness of the British pound -- the currency plunged below $1.50 Monday for the first time in almost 10 months amid mounting concerns that the upcoming general election will result in a hung Parliament.