Experts have unanimously predicted that the Bank of England will introduce further interest rate cuts next week.
A poll of 11 economists by Adfero found that each one expected a reduction in the base rate - with the anticipated extent ranging from 0.5 per cent to one per cent.
Senior economist at the Centre for Economics and Business Research Charles Davis explained that although another dramatic cut may come, the monetary policy committee may prefer to retain that option for the coming months.
He said: "It's a question of will they really try to kick start things or will they take a bit more of a gradual approach and try to keep some firepower in the locker?"
Any cut by the Bank could see rates fall for those seeking secured and unsecured loans.
The decision earlier this month to drop the base rate to three per cent represented a 1.5 per cent 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 Any products featured may be withdrawn by their provider or changed at any time.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.