Earlier, official data showed that consumer price inflation halved in December to 0.5 percent.
BoE Governor Mark Carney is required to explain to finance minister George Osborne in an open letter the reasons for inflation coming in a full percentage point or more above or below the Bank's 2 percent inflation target.
Under the BoE's latest remit, the Bank is normally required to publish the letter alongside the minutes of its policy meeting that followed the publication of the inflation data, which next month is due to occur on Feb 18.