The Bank of England is expected to keep interest rates on hold at 4.75% for the fourth month in a row.

Economists are confident that the Bank's Monetary Policy Committee will freeze rates, calling it the most clear-cut decision for some time.

The no-change decision is expected following a stream of evidence suggesting a slowdown in house price growth as well as weak economic data.

Banking giant Halifax recently forecast a 2% fall in house prices next year following a 0.4% drop last month, leading it to say it believed interest rates had peaked.

Inflation is still well below the Government's target of 2% over two years, having risen by just 0.1% to 1.2% in October.

Weak economic growth is also likely to influence the committee's decision. Last month the Office for National Statistics (ONS) stuck by its gloomy estimate of 0.4% growth in gross domestic product in the quarter to the end of September.