At their regular meeting, bank policymakers kept rates and stimulus programmes unchanged.
They also said that the world's number-six economy was recovering faster than they had previously thought.
By the third quarter the bank now expects GDP to be 7% down on its level at the end of 2019.
That's better than earlier estimates of a 9% drop.
But analysts bet the bank will still step up its bond-buying programme in November.
And governor Andrew Bailey says all options are under consideration.
Bailey and his colleagues have previously said they were working out the pros and cons of taking rates below zero.
That's something that's already happened in the euro zone and Japan.
On Thursday policymakers said they had been briefed on how to make the same move in the UK.
But they made no firm commitment on any such move.
Even so, sterling fell sharply following Thursday's announcements, losing around half a percent against the dollar.
