If and when it happens there will be a lot of talk about the first rate rise since "x".
But while three of the nine Monetary Policy Committee members voted for a hike in July, just two backed an increase this month.
Mr Broadbent said there was a "trade off between stabilising inflation and keeping the economy going".
"The BOE is highly likely to sit tight on interest rates through 2017 and 2018 - and very possibly beyond", Raj Badiani, senior principal economist at IHS Markit in London told Xinhua.
Sterling - supported recently on hopes of an interest rate rise - fell back against the dollar in the wake of the Bank's remarks, by nearly a cent, to $1.3160. Shares rose and British government bond prices jumped.
The decision comes a year after rates were cut to 0.25% last August following the Brexit vote.
He continued: "For existing homeowners, sustained low interest rates are good news because they keep mortgage repayments level".
But he said wages will start to outpace inflation next year, while growth will also begin to pick up.
The BOE said it now expects Britain's economy to grow by 1.7 per cent this year, down from its May forecast of 1.9 per cent. In May, the BoE forecasted the economy will expand 1.9% in 2017, and inflation will increase to 2.7%.
Laith Khalaf, senior analyst at Hargreaves Lansdown, said it was no surprise that the BoE made a decision to hold fire on lifting interest rates given the slowdown in economic growth and consumer spending.
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Investors hoping for the Bank of England (BoE) to hint at a more hawkish tone on monetary policy were disappointed yesterday, as the BoE seemed notably more dovish.
The vote was 6-2 for no change, with Michael Saunders and Ian McCafferty voting in favour of a rate hike. 'Perhaps the most interesting part of today's statement is the fact that the Bank still thinks investors are too cautious on the outlook for interest rates, ' he said.
"Brexit even overshadows consumer borrowing, which the Bank has lately sounded anxious about".
Mr Alan Clarke, a rate strategist with Scotiabank, said: "The door is still open to a hike, but it does not look imminent".
In a separate announcement on Thursday, the BOE unveiled its inflation and GDP forecasts.
As expected, the Bank will bring its Term Funding programme to an end when it expires in February next year, but not before raising the ceiling on it to £115bn from £100bn, which it said is due to strong demand from banks.
With low unemployment, wages are expected to rise.
The central bank held interest rates steady on Thursday at a record low of 0.25%. Also, the encouragement to save instead of spend may, to some extent, slow down the economy. The MPC now sees growth at 1.6 percent in 2018, down from 1.7 percent, while GDP in 2019 remains at 1.8 percent.
"There is an element of Brexit uncertainty which is affecting the wage bargaining".
He points out that savers have not only seen little to zero gains on their cash, but also an uptick in inflation, which hit a four-year high of 2.9 per cent in May and is expected to peak to 3 per cent in October.