Carney tries to win over sceptics
The meeting is the first since the Bank pledged to keep interest rates at record lows of 0.5% until the unemployment rate falls to 7%.
But it has so far failed to have the desired effect on the City, with a series of caveats to the announcement prompting fears that rates might rise sooner than expected, while criticisms of the policy move are also mounting.
Influential economists on the Institute of Economic Affairs' so-called shadow Monetary Policy Committee (MPC) have reportedly blasted the strategy, warning it will fuel inflation and lead to boom and bust cycles.
While the Bank has implied rates will stay on hold until late 2016, markets have brought forward their forecasts for a hike to the first quarter of 2015.
Mr Carney used his first public speech in Nottingham last week to shore up his strategy with the blunt message that rates will stay low for at least another three years.
He also signalled the potential for more economy-boosting measures under the Bank's quantitative easing (QE) programme should market rate expectations feed through into broader financial conditions or hamper the recovery.
So while rates will remain on hold at 0.5% this month, there is growing speculation over the Bank's plans for more asset purchases.
It is thought the MPC may also release another statement alongside this week's rate decision reiterating once more that the rise in market rates is unjustified.
Capital Economics expert Vicky Redwood said she believes MPC members Paul Fisher and David Miles will resume their vote for more QE as early as this month.
"Cutting Bank Rate further would also be a powerful signal that the MPC means business, although that seems less likely for now," she added.
Philip Shaw at Investec Economics is pencilling in a no change for QE and said Mr Carney made it clear in his recent address that it is the Bank rate that counts, rather than market expectations.
Mr Carney pointed out that interest rates on 70% of loans to households and 50% of those to businesses were linked to the Bank rate rather than the market.
But fixed rate mortgages are linked to market rate expectations and Ms Redwood said borrowers may soon start to see a rise in the cost of these loans soon as swap rates increase.
An inflation attitude survey due out on Friday will be watched closely to see if Mr Carney's rate guidance has resounded with households and businesses.
June's Bank of England inflation attitudes survey revealed that 34% of respondents believed rates would rise in the next year, but explicit guidance should see this pushed back and help encourage spending.
According to Mr Shaw, in trying to influence expectations of rates, the MPC is "battling better news on the economy, which continues to come in thick and fast".
Thursday's noon rates decision will follow a raft of sector surveys, which are expected to show further solid progress.
Economic growth was revised up to 0.7% for the second quarter and recent data is pointing to the start of another possible housing market boom.
Mr Carney has been quick to stress that despite the positive signs, the UK still lags behind other recovering economies.
He added last week that it could take even longer than three years for unemployment to reach the 7% threshold - or a fall of 750,000.
© 2013 Press Association