I think very few people would be surprised to see the Bank of England MPC have held the base rate at 5.25%. They'll wait for the Federal Reserve to cut first and with chairman Jerome Powell stating that a cut 'isn't imminent', we'll likely have to wait for one of the summer MPC meetings to see the first cut to base rate. Some lenders have started to increase their fixed rate but best-buys are still available below 4.5% on the 2-year and below 4% on the 5-year, which are considered good value based on future interest rate expectations. Borrowers on ‘trackers’ who aren’t concerned about early repayment charges should review their ‘switch to fix’ options asap as there are some highly competitive deals out there.