Andrew Sentence, policy maker at the BOE, said the signs of rapid recovery, especially in Asia, may cause price of commodities and assets to accelerate. He added that his economy is going to take advantage of the pound's depreciation by boosting exports. Although trade deficit widened in January but a gauge of export orders rose to -18, the highest since August 2008.

Moreover, he said that recovery, on the other hand, support trimming budget deficit where economies already started unwinding stimulus measures.