With the economic analysts being confident of no further rate rise homeowners with secured loans are taking a sigh of relief.

London (shakespearefinance) 06 Dec. 06: A vast majority of economic analysts are confident that the interest rate will hold. This declaration that came on the eve of tomorrow's monthly review by the monetary policy committee is a welcome relief for the homeowners who have taken secured loans against their home.

Already the interest rate has been raised twice in the last quarter by the Bank of England which affected a number of borrowers who have loans, mortgages and arrears. However, there is no evident sign of the interest rate being increased further.

Strong growth in retail and the continuing boom in the property market are expected to influence the economy and check further increment in the interest rate. Organisation for Economic Co-operation and Development appears to be highly optimistic when it says that interest rates in the UK have now "peaked".

Howard Archer, chief UK and European economist at research firm Global Insight, said: "The unexpected stabilisation in consumer price inflation is very good news for the Bank of England and obviously reduces the likelihood of another interest rate hike early in 2007."

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