The Bank of England is still sitting on its hands, but many are speculating that the days of 0.5 per cent interest rates are increasingly numbered.

The Bank's monetary policy committee (MPC) again voted not to touch interest rates, but there has been much speculation that a minority of the nine-person committee may have voted for a hike.

The decision has not surprised anyone and the minutes (released in two weeks) and any evidence of a split will be more interesting.

Barclays, Oxford Economics, BNP Paribas, Berenberg, Investec and a range of others are now expecting a rate hike this year – probably at the November meeting.