Economists are predicting that the cost of borrowing will fall to its lowest level in over 18 months when the Bank of England reviews interest rates on Thursday.
The Bank of England's monetary policy committee (MPC) will make a decision on whether to cut the UK's base interest rate when it meets this week.
The rate currently stands at 4.75 per cent. The majority of experts have predicted that the central bank will decide on a quarter point reduction to 4.5 per cent, continuing a trend of cuts initiated last summer.
However, experts have warned that inflation is expected to rise in the coming months, which puts a question mark over any additional cuts further down the line.
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