THAMES Water has decided not to apply for a drought order yet.
Board members decided on Friday that, while the drought is serious the situation does not yet warrant applying for further restrictions.
They say local river flows are being maintained, reservoir storage is increasing and demand is falling.
Jeremy Pelczer, chief executive of Thames Water, said: "In making a decision we need to consider long-term questions, such as how long the drought might last and the possibility of a third consecutive dry winter.
"We also need to take into account more immediate issues like rainfall levels, the ability to recharge reservoirs and ongoing efforts to reduce demand."
He added: "The situation remains finely balanced, and we will continue to review it weekly.
"There remains a distinct possibility that we will need to apply for a drought order in the coming weeks."
Thames Water has given almost 50 Swindon households a warning after flouting the current hosepipe ban.
The water company has sent out 932 letters to customers, 47 of which were in the Swindon area following reported breaches of the restrictions, which came into force on April 3.
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