The Eurozone is teetering on the brink of another recession because of its and as Britain's biggest trading partner, the threat of European recession is economically significant.

Forty-four out of 52 economists polled this week said the Bank would inject further rounds of fresh money into the economy, with those who thought so sizing it at a median £325 billion - unchanged from a poll run last month. There was one forecast for £500 billion.

"Although we remain unconvinced that QE will do much to stimulate economic activity, it is one of the few policy instruments left to the Bank, which is why we look for more action," Peter Dixon, UK economist at Commerzbank, told Reuters.

The government is steadfastly keeping to its aggressive budget deficit-reduction plan, which will inevitably drag on economic growth.

So pressure will remain on the Bank to help offset that, even with inflation at more than double its 2.0 percent target.