Private landlords will be among the property industry professionals waiting to hear the decision by the Bank of England's monetary policy committee (MPC) regarding interest rates.

As well as property tax and rental tax, landlords need to pay their buy-to-let mortgages - making the cost of borrowing an important factor.

It is widely expected that there will be no change in the base rate when the MPC announces its verdict at noon today.

Since March 2009, the base rate has been at a record low of 0.5 per cent as the government has chosen to keep the cost of borrowing low to encourage people to spend more money.

Earlier in the week, Centre for Economic and Business Research economist Arek Ohanissian said: "At this point we are estimating that they won't start pushing it up until the first or second quarter of 2010."

Written by Sarah Field

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