Tony Capon, Salt's Head of Sales, said: "The Bank of England's decision to keep interest rates on hold was entirely what the market expected.
"Inflationary pressures are showing signs of subsiding but the MPC will keep a close watch on inflation in the coming months before determining the future direction of interest rates.
"In view of this it will wait for its next quarterly inflation report due prior to the February as this will give it much better idea of inflationary pressures. Pressure is building for an early cut, with the market seeing the economy growing below trend for 2006 without stimulus.
"A February cut is seen as a distinct possibility but by not an absolute certainty."
