In their testimony before the Treasury Select Committee members of the Monetary Policy Committee apparently implicitly indicated that the central bank may never fully unwind its quantitative easing or, at least, that it might be a very drawn out affair.
The Bank's £375bn monetary easing programme started five years ago during the height of the financial crisis. The BoE also subsequently slashed its benchmark interest rate to a record low of 0.5%.
To use their own words, the long-run equilibrium for the size of the bank's balance sheet may now be higher than before the financial crisis.
On a somewhat similar note, addressing questions from MPs on the Treasury Select Committee over reversing the policy on Tuesday, Carney said: "We're not going to sell £375bn of gilts. That's a hypothetical question, purely hypothetical."
The governor said that he did not expect the BOE to begin scaling back QE until there had been "several adjustments" in interest rates, signalling that it could take years.
Last month, in the February inflation report, the Bank changed its so-called forward guidance on policy after the unemployment rate unexpectedly dropped closer to the 7% threshold at which it said it would consider raising interest rates.
At the time, Carney said the new guidance would include several factors including the degree of existing spare capacity.
In today's remarks to lawmakers, Carney said the amount of spare capacity in the economy was probably slightly more than 1.5% of gross domestic product, suggesting the BoE can hold off on raising interest rates for longer.
"We ranged in the February inflation report (that spare capacity) was 1-1.5%," Carney said.
"I personally would be at the upper end of that range and I would add that the margin, given the most recent employment report, that it would probably be slightly higher than that 1.5%."
He also said the UK's natural rate of unemployment could be less than the Bank has forecast, meaning the labour market can strengthen further without pushing up inflation.
Britain's unemployment rose to 7.2% in the three months to December.
BoE to restructure market oversight after forex fixing claims
The BoE is set to restructure some of its market oversight functions following claims that some of its officials were aware of alleged foreign exchange
Carney told MPs the Bank would create a new Deputy Governor position with responsibility for markets and banking. They will carry out a review of how the Bank conducts market intelligence.
Officials within the BoE have been accused of knowing of market manipulation as early as 2006, but the Bank said there was no evidence its staff had colluded to rig the market.