The Bank of England has been predicted to make a further reduction to the base rate of interest when the decision of its monthly meeting is announced tomorrow.
All 13 economists, financial institutions and business organisations surveyed by Adfero said that a cut is the most likely outcome, a measure that could lead to cheaper mortgages and secured loans.
The Bank's monetary policy committee is meeting today and will reveal its decision tomorrow, having reduced the rate from three per cent to two per cent last month.
Those questioned were divided over the extent of the likely reduction, with predictions ranging from 0.5 per cent to another full percentage point.
According to chief economist at Lloyds TSB Trevor Williams, the more modest move is "what is expected".
However, he himself predicted a larger cut, stating: "I think if they want to remain ahead of where markets are looking for and maybe get to where they want to be quicker ... they'll do [a] one percentage point cut."
Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.
Moneyfacts.co.uk will, like most other websites, place cookies onto your computer’s
hard drive. This includes tracking cookies.