Interest rates are expected to be cut by the Bank of England later, in a move closely watched by households and economists.
Analysts predict the benchmark rate will be cut from 4.75% to 4.5%, as the Bank comes under pressures to boost the UK economy which has been showing slow growth.
The Bank rate is the primary tool aimed at controlling inflation, and hopes of a cut rose after the inflation rate – which charts the rising cost of living – fell to 2.5% in the year to December.