Today the Bank of England announced that it would be keeping interest rates on hold at 5.25 per cent in February - but will they stay there for long and what does this mean for consumers?
The decision to keep rates on hold comes after three interest rate rises in six months, but opinion is split on whether this cycle of rises is now ended or if the Bank is simply taking a break.
"Having surprised financial markets and commentators by raising rates to a five year high in January, it seems likely that the members of the [interest rate setting] Monetary Policy Committee (MPC) might have wanted to pause to see what effects their pre-emptive strike had," said Barry Naisbitt, chief economist at Abbey.
But this break from rate rises might not last long.
"Many market analysts will view this latest decision by the Bank of England as a mere delay of an inevitable further rate rise," said Mehrdad Yousefi of Alliance & Leicester.
"The consensus of opinion is that it is very likely that we will see another rate rise in the first half of 2007, so it is crucial that borrowers assess what impact any possible future base rate rises could have on their finances."
However, not all analysts are convinced rates will rise again.
"Next week's inflation report will provide more information on the MPC's thinking, but the odds currently favour interest rates staying on hold at 5.25 per cent for a prolonged period," said Simon Ward, chief economist at New Star Asset Management.
Others, including Fool.co.uk, predict rates could rise as high as six per cent.
"Borrowers who think that Bank Rate will rise to at least six per cent, and those who just want or need the security of knowing what their monthly payments will be, still have a few short term fixed rates to choose from below five per cent, but all clean or non stepped fixed rates for more than two years are now priced in excess of five per cent," Ray Boulger of mortgage adviser John Charcol commented.
"There is a far better choice of trackers, with the lowest two-year rate without extended early repayment charges being as low as 4.44 per cent, although this rate has a 1.25 per cent fee.
"Overall there is still an excellent choice of two-year trackers around five per cent and three and five-year trackers, including some with both no early repayment charges at any time and a droplock option, at around 5.25 per cent.
"For borrowers who would like some interest rate protection but don't want to lock into a fixed rate at current levels either a fixed rate with no early repayment charges at any time or a capped tracker or capped discount offers a good compromise, although only a few lenders offer either of these products.
"The best of the current deals are from Coventry, Skipton, Marsden and Woolwich."