The Bank of England has maintained interest rates at 0.5% and kept its quantitative easing programme at £200bn.
China has offered support to the eurozone to help it through the debt crisis that has gripped the region.
The Monetary Policy Committee's (MPC) Adam Posen has warned the Bank it should not try to compensate for its past mistakes in underestimating inflation by pushing up interest rates.
Britain's financial system is vulnerable to increased EU sovereign debt woes and bubbles in emerging market assets and junk bonds, the Bank of England (BoE) says.
Bank of England governor Mervyn King plotted a secret bailout of the world banking system using funds from four cash-rich nations, including the UK, in March 2008, according to a US embassy cable released by WikiLeaks.
Deputy governor of the Bank of England Charles Bean says another eurozone sovereign debt crisis could "derail" Britain's recovery, hitting businesses and households hard.
The Irish Republic is poised to unveil the details of a severe austerity budget later, part of a deal to secure an €85bn bail-out from the European Union and International Monetary Fund.
One advantage of using ETFs is their flexibility, says Morningstar's Jose Garcia-Zarate
Former Bank of England policymaker David Blanchflower has called for Mervyn King to quit over the US WikiLeaks affair.