In the wake of figures that showed better-than-expected growth in GDP for the third quarter, the Bank's Monetary Policy Committee (MPC) decided not to sanction a second wave of quantitative easing.
Reacting to the MPC's announcement, analysts were divided on whether the central bank will be required to implement further stimulus measures in the coming months.
Deloitte's Roger Bootle told Reuters he believes the Â£200 billion quantitative easing programme will be expanded before long.
"Further support is needed to see the economy through the biggest government spending cuts in decades, with extra asset purchases the only option left," he commented.
However, George Buckley of Deutsche Bank predicted "no further" quantitative easing, adding that interest rates should begin to rise from the second quarter of 2011.
The base rate of interest has now stood at 0.5 per cent - a record low - since March 2009.
By Tony Aynsley