Governor of the Bank of England Mervyn King said yesterday that policy makers will start withdrawing stimulus at the suitable time and this will probably be adopted through raising interest rate along with selling assets later on in an organized program.

However, the bank is keeping eyes on inflation that is still above the bank's 3% upper limit as in May it reached 3.4%. In June, BoE left both interest rate and APF quantity unchanged at 0.50% and 200 billion pounds to boost growth amid the austerity measures introduced by the government to tame the huge budget deficit.