The Bank of England has decided not to change monetary policy this month, despite the poor state of the UK economy.
The decision was widely expected though some economists had predicted a further £50bn would be pumped into the economy through the bank's quantitative easing (QE) programme.
The bank has effectively printed £325bn of cash to date through the purchase of assets such as gilts - boosting liquidity, or money supply, in the economy.
But it had previously warned that it did not want to risk stoking stubbornly high inflation and therefore further harm to the economy by immediately extending QE.
There was also no change to the base rate of interest, which has now stood at 0.5% since March 2009.
China, meanwhile, has announced a cut in its main interest rate in a bid to encourage activity in a country where annual economic growth is targeted at an enviable 7.5%.
The quarter point rate reduction to 6.31%, effective from June 8, helped bolster a two-day recovery in world stock market values - with the FTSE, European and most Asian indices showing gains on Thursday.
Most economists, including Ross Walker of RBS who is also a member of the Sky News Money Panel, expected no extension to QE, given the bank's domestic concerns outlined in the last inflation report .
The 'wait-and-see approach' also gives policymakers time to take in the result of the Greek election re-run later this month and gauge attempts to rescue Spain's banks.
Though others, including Michael Saunders of Citigroup, believe the rate should have been slashed by a quarter point and QE resumed - purely on the basis of the UK's own troubles, let alone the effects of the euro crisis.
Last month, the Bank of England's governor Sir Mervyn King accused the eurozone of tearing itself apart .
The bank sees the crisis as the biggest single threat to UK prosperity - with closely-watched activity surveys suggesting the manufacturing and construction sectors suffering particularly.
Despite a call from the International Monetary Fund for a cut in the base rate, there was little pressure on the MPC to agree.
Each member of the Sky News panel said a rate cut would deliver no real benefits - except to a significant minority with tracker mortgages.
Mr Walker said: "The Bank has argued in the past that it might even have adverse effects in so far as such a cut might compress banks' lending margins and thus inhibit the supply of credit."
Anthony Thomson, the chairman of Metro Bank, was more upbeat than his colleagues on the panel on the prospects of more QE this month.
"I think the MPC will look very closely at the possibility of introducing another £50bn of QE following the poor figures (for the UK economy)," he said.
The result of the voting will be released on June 20.
Sir Martin Sorrell, the chief executive of advertising giant WPP, sounded a more upbeat note on the euro crisis.
He did not expect Greece to leave the euro this year and said: "I think, or more realistically hope, the Germans will capitulate in this complicated and dangerous game of chicken and support or subsidise the weaker Eurozone partners.
"Not doing so will take us into totally uncharted waters and contagion in Spain and Italy.
"This is German re-unification all over again - short-term pain, but long-term gain," he added.
James Daley, money editor at consumer group, Which? and Louise George, the owner of Peter Popple's Popcorn, also expressed concern over Greece and the potential harm to UK growth caused by the extra holiday for the Diamond Jubilee celebrations.
Ms George did expect Greece to leave the single currency this year but said damage to the economy as a result of the holidays would be only temporary.
Mr Daley added: "We know from past experience that adding a Bank Holiday...has a short term detrimental effect on GDP. However, it can also help boost consumer confidence."
Attention has now turned to America, where Federal Reserve chairman Ben Bernanke has testified on the state of the US economy before a Senate committee.
"US banks have greatly improved their financial strength in recent years... Nevertheless, the situation in Europe poses significant risks to the US financial system and economy and must be monitored closely," he said.
Mr Bernanke said the Fed has broad-based authority to provide liquidity against collateral, as provider of last resort.
"As always, the Federal Reserve remains prepared to take action as needed to protect the US financial system and economy in the event that financial stresses escalate," he said.
