The Monetary Policy Committee’s discussions included reconsidering its decision not to cut rates below 0.5%.
Noting the weakening economic outlook, it also looked at boosting the flow of money through quantitative easing.
However only one MPC member, Adam Posen, made the proposition for increased quantitative easing.
The minutes from the meeting held on 8 September highlighted a number of deteriorating economic signs, including slowing retail sales growth, output, exports and a flagging housing market.
The International Monetary Fund on Tuesday cut its growth forecast for the UK economy from 1.6% to 1.1% for this year.
The MPC noted that inflation was still likely to rise from its current 4.5% to 5%, well above its target of 2%.
But it said it still expected it to come down to target in 2012, thanks to the likelihood of a synchronised period of weak global growth, pressured by the eurozone crisis and a US economy beset with its own problems.
