No change in interest rates expected
The Bank of England is expected to leave interest rates on hold at 4.75 per cent.
The outcome of the monthly Monetary Policy Committee’s meeting will be known at 1200 today.
If it does opt to hold the rates it will be the eighth consecutive month it has chosen to do so.
Economists are predicting that lessened consumer spending along with a stable housing market should be enough to keep rates down in April.
“The data has been sufficiently mixed for the MPC to quite comfortably make the case to keep the rates unchanged,” said HBOS economist Steven Pearson.
However, as last month they voted by 7-2 to keep rates on hold, it seems they are divided on whether or not to raise the rates.
Two members of the MPC thought that a pre-emptive strike would help to stop the threat of inflation.
There are also conflicting reports at present about the state of the housing market.
The Bank of England found that there had been a fall in the number of people applying for home loans, but property website Hometrack says there was in fact an increase in the number of buyers.
It will be the final meeting of the Monetary Policy Committee (MPC) before the election on May 5.
