The Bank of England again kept Britain's interest rate unchanged at 0.5 percent, and announced no expansion to its quantitative easing (QE) program after Thursday's meeting.

The Bank's Monetary Policy Committee (MPC) has kept the interest rate at the current record low for over three years, in a bid to boost the sluggish economy.

Christine Lagarde, managing director of the International Monetary Fund, earlier said the Bank of England should consider lowering interest rates further to help Britain combat the eurozone debt crisis.

The British economy has turned back into recession following two quarters of negative growth, which has induced an increasing expectation for the central bank to expand its QE size.

A recent poll of economists by Reuters showed 25 percent of those asked thought the MPC would vote for more QE.

The Bank's chief economist Spencer Dale said last week the British economy was still feeling the benefits from the QE already conducted, which totaled 325 billion pounds (about 506 billion U.S. dollars) in size.

Most economists and market observers believe the Bank would introduce more QE sooner or later, and the only problem is the "timing," considering the country's dim growth outlook.