A number of fiscal institutions have made predications on the upcoming interest rate decision by the Bank of England’s monetary policy committee (MPC).
The resolution will be announced by the MPC tomorrow at 12 noon, in news that may be of interest to those with mortgages or looking to buy a house in Scotland.
Simon Hayes, a UK economist at Barclays Capital, comments: "We now expect 25 bp rate cuts in January, February and April, taking Bank Rate to 4.75 per cent."
Martin Ellis, chief economist at Halifax, states that the institution believes another change will occur but predicts that it is more likely that it will occur in February than tomorrow, adding that it thinks at least two more reductions will take place in 2008.
HSBC and Capital Economics also predicted no change in the interest rates tomorrow.
The MPC elected to cut the interest rate by 0.25 percentage points to 5.5 per cent in December 2007.
In other news that may interest those looking to buy a house in Scotland, the Edinburgh Evening News recently stated that the Scottish capital is due to defy they UK trend of falling house prices over the next 12 months.