The central bank kept its key rate unchanged while announcing a reduction in the speed of its quantitative tightening programme, as new data revised UK productivity growth higher.
The central bank has proposed selling government bonds back to the Treasury and winding down its post-financial-crisis asset purchase scheme, as government borrowing costs eased and pressure grew over the program's cost.
The central bank held interest rates at 3.75% on Thursday but surprised markets with a shake-up of its quantitative tightening programme, including a plan to sell £146bn in gilts back to the Treasury.
An opinion piece in The Guardian argues that the Bank of England's bond-selling programme has blurred the boundary between monetary and fiscal policy, leaving ministers liable for costs they cannot control.