Investing.com - The BoE said Thursday it sees U.K inflation at target rate of 2% within six months.
Consumer price inflation rose to 1.2% in November from 0.9% in October.
Pound trade-weighted appreciation of 6% to slow inflation but rate seen overshooting target later in 2017.
"There are limits to the extent above-target inflation can be tolerated," the bank said.
The bank said future monetary policy can go either way as economic developments unfold.
The BoE Thursday left its bank rate at an historic low of 0.25% and kept QE program at £435 bn.