Economists told the Sunday Times the Bank, which issues its latest Inflation Report this Wednesday, is likely to say growth could be 3% next year, returning to pre-crisis levels and growing quicker than other developed countries including the US.

The services sector is performing particularly well and could help growth in the fourth quarter of 2013 to be above 1%, they said. However, overall growth for 2013 is only expected to be around 1.5%.

Governor Mark Carney could also raise the forecast for the 7% unemployment rate rule; the rate unemployment needs to fall to before he will consider raising interest rates.  He had previously indicated this may happen in mid-2016 but is looking to bring that forward to early 2016 or 2015.

There is no guarantee that interest rates will rise then but Carney has said previously he will consider a rate rise at this stage.

The Bank is also being tipped in some quarters to reveal a drop in inflation to 2.5% in October, down from 2.7% in September.