51�Թ�

Any number of financial indicators could tell us when prices moved into some level of equanimity with expected corporate profits, or reasonable expectations of future interest rates.

In December, when rates were held at 4.75%, the Bank's Governor, Andrew Bailey, said it would take a "gradual approach to future interest rate cuts".

After the December meeting, he said "a gradual approach to future interest rate cuts remains right", but added "with the heightened uncertainty in the economy, we can't commit to when or by how much we will cut rates in the coming year."

Announcing the December rate decision, Bank of England governor Andrew Bailey said: "We think a gradual approach to future interest rate cuts remains right."

You can see how your mortgage may be affected by future interest rate changes by using our calculator: