Bank of England policy chiefs on Thursday voted to keep the base rate at a 15-year high of 5.25 per cent despite inflation trending downwards.
In its latest update on Thursday, the Bank also said it now expects inflation to temporarily return to below 2 per cent by the summer as energy prices fall.
Some economists predict the rate could fall as low as 3 per cent by the end of 2024, driving optimism in the market.
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