The Bank of England (BOE) has signaled that it may need to inject further stimulus into the UK economy to combat weakening growth. The central bank recently revised its growth forecasts downward, citing the persistent Eurozone crisis and its potential to negatively impact British exports.

Minutes from the latest Monetary Policy Committee (MPC) meeting revealed a growing concern among policymakers about the fragility of the economic recovery. While the MPC voted to hold interest rates steady at 0.5% and maintain its current asset purchase program, the committee emphasized its readiness to take further action if the economic outlook deteriorates.

“The scale of any further action would depend on the committee’s assessment at the time,” the minutes stated. This suggests that the BOE is prepared to implement a range of measures, including additional quantitative easing (QE) or even a further cut in interest rates, should the need arise.

Economists have reacted cautiously to the BOE’s announcement. Some believe that further stimulus is essential to prevent the UK economy from slipping back into recession, while others warn that additional QE could lead to inflation and currency devaluation.

The BOE’s next MPC meeting is scheduled for August, and analysts will be closely watching for any further signals about the central bank’s intentions.