The bank kept its weak-crown policy in place, pledging to avert the currency's firming beyond 27 per euro, and reiterated that it still saw the policy likely ending in mid-2017.
It said Britain's vote to leave the European Union created an uncertainty for the forecast but did not describe it as downside nor upside risk. Downside risks are producer prices in the euro area and spillover of long-term low inflation into nominal variables, especially wages, it said.
But wages and the labour market developments so far are upside risks, it said.