The Bank of England’s message is upbeat, but there’s a sting in the tail

Analysis: a hawkish tone signals that at some point businesses will need to manage with less support

Unemployment has peaked. The pick-up in inflation will be temporary. All the ground lost during the biggest slump in 300 years will be regained by the end of the year. All in all, it was a pretty upbeat message from the Bank of England as it provided its quarterly update on the state of the UK economy.

Albeit one with a sting in the tail, because the eight members of Threadneedle Street's monetary policy committee (MPC) wanted to send the message that they see the day coming when consumers and businesses will have to get by with less policy help.

Related: Bank of England warns inflation will hit 4% this year but holds interest rates