The Bank of England left the base rate unchanged at 0.5 per cent for the thirteen consecutive months. The quantitative program was also left unchanged at £200bn by the Monetary Policy Committee.

However, it was said that room for reconsideration was still there incase economic recovery loses steam in early 2010.

As per Jennet Siebrits, Head of Residential Research at CB Richard Ellis, the main point of the coming election campaign would be to create a robust economic environment. About the MPC she said that they would be under pressure to keep the recovery on track.

James Thomas, Head of Residential Development at Jones Lang LaSalle puts Commercial sector as weight for any reason to raise interest rate later in the year.