Each of these policies would help to raise short-term interest rates and limit the growth of broad measures of money and credit, thereby tightening monetary policy.
Yet some analysts are tempering their short-term outlook for silver, noting that the rise in crude oil prices could limit the gains in the industrial precious metals.
But most members of the MPC also seem to think the economy has been permanently damaged by the crisis, and that this damage puts a limit on how much the Bank - or anyone else - can sensibly do in the short term to revive growth.