It's been four years since the Bank of England cut interest rates to a record low 0.5 percent.
Since then the central bank has launched multiple rounds of asset purchases worth a total of 375 billion pounds ($562 billion).
Most analysts expect the Bank of England to keep its rate unchanged and maintain the current size of its bond buying program at the end of its meeting on Thursday.
But with the U.K. economy in the doldrums, minutes from the bank's last meeting showed three of the nine committee members had voted in favor of expanding bond buying by a further 25 billion pounds ($38 billion).
Amid fears of a triple-dip recession, the bank's deputy governor Paul Tucker has gone so far as to suggest negative interest rates on money parked at the central bank in order to encourage the financial system to step up lending.
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