Private landlords will be among the property owners eager to hear the interest rate update later today.

The Bank of England's monetary policy committee (MPC) will announce its decision at noon.

Most economic commentators have predicted that there will be no movement in the cost of borrowing - from its current record level of 0.5 per cent.

It was March when the MPC brought the base rate down to half a percentage point, meaning today's expected freeze will be the sixth month in succession that there has been no change.

Organisations such as the National Association of Estate Agents have indicated that the current interest rate has played a part in the recent upturn in the property market.

And the trend is set to continue, according to accountancy firm BDO Stoy Hayward. Partner Peter Hemington suggested that the MPC will keep rates at 0.5 per cent until the final quarter of next year.

Written by Mark Garner
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