It looks as though bank rates will remain at a record low at 0.5% with no dissenters at this month's Monetary Policy Meeting. This is the first unanimous decision from the Bank of England since the summer with the two dissenters who pushed for rate rises in the final months of 2014 now in retreat. Fears of deflation appear to be driving this unanimity. Minutes of the meeting disclose that there is a "roughly even chance" of inflation dipping into negative figures in early 2015. If the UK does succumb to deflation it will be for the first time in 55 years.
For property investors, it appears to have taken away the immediate worry of rate rises which are looking increasingly unlikely in the short term.
All nine members of the Bank of England’s Monetary Policy Committee voted for rates to remain on hold at the record low of 0.5 per cent this month for the first time since summer last year.