The Bank of England will make clearer on Thursday where its priorities for nursing Britain's ailing economy lie, with opinion split evenly on whether it will unveil another round of bond buying after a policy meeting.
In the past week, dismal data on bank lending and manufacturing has been accompanied by a softening of rhetoric from the central bank, and a willingness to consider new and unconventional policy options to kickstart growth - despite the fact that inflation remains well above target.
A Reuters poll of economists last week showed a 40 percent chance of the bank opting for more quantitative easing after this week's two-day policy meeting, and a 60 percent chance before the year is out.
Since that poll was conducted, several economists have changed their call and money markets suggest that the probability is closer to 50 percent. The rise in QE expectations has weighed on the pound, pushing it to a 2-1/2 year low against the dollar.
"It's a very close call," said Ross Walker, UK economist at RBS.
"My view is that they will hold fire this month, but at the very least you have to say that the BoE is very happy to sound dovish."
Britain's central bank has already bought 375 billion pounds of gilts, the equivalent of 26 percent of national income, far outstripping the Federal Reserve's QE effort which accounts for 14 percent.
Despite the BoE's efforts to stimulate the economy via printing money, Britain is in danger of tipping into its third recession in four years and skepticism is growing about what more of the same would achieve.
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The British Chambers of Commerce, which downgraded its growth forecasts on Thursday, said fiscal policy, and targeted measures to support business investment, would be more effective than pushing monetary policy further into already charted waters.