Experts predict the Bank of England's monetary policy committee will leave the base rate unchanged at 4.75 per cent on Thursday.
They say the five rises since last November are now beginning to take effect in the form of falling house prices and weaker consumer borrowing and retail sales.
The bank is likely to hold rates at least for this month to assess whether the downturn is temporary or longer-lasting, they say.
Simon Rubinsohn, chief economist at stockbroker Gerrard, said: "A no-change outcome to the September MPC meeting is a dead cert."
David Buik, of City financial spreadbetting firm Cantor Index, said: "Perhaps the MPC will have the luxury of easing up on its vice-like grip on consumer borrowing."
Philip Shaw, of broker Investec, predicted the bank would hold rates for the rest of 2004, raising them to a peak of five per cent early next year.
Tuesday September 07, 2004
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