The Bank of England has left interest rates steady at 4 per cent for the second month running amid increasing signs of booming house prices and consumer spending.
The Monetary Policy Committee (MPC) cut rates seven times last year, most recently in November, taking borrowing costs down to a 37-year low and encouraging consumer spending in the world's fourth largest economy despite a US-led global economic slowdown.
Many economists now think the rate-cutting cycle has ended, and could soon be heading up again, although a few still think there could be another cut.
Financial markets took the decision in their stride. The FTSE 100 index of leading shares remained about 31 points down on the day at 5,197.6, and the pound was steady at $1.444 and 61.76 pence to the euro.