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Policymakers voted eight to one to keep the benchmark rate unchanged, pointing to a third consecutive month of easing price pressure.
The decision had been widely expected by economists, though the vote split was narrower than in December. The bank said it would keep policy "restrictive for as long as needed" but dropped a reference to further tightening.
Wind and solar together supplied the majority of electricity for the first full calendar year on record. The operator cautioned that storage, not generation, is now the binding constraint on further growth.
Ten-year yields fell nine basis points in the hour after the inflation print, the sharpest single-session move since October.
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