This gent seems to think not. Mr King stated that he believes that Bank of England rate will remain the same at least for now
I am not as convinced. I think we will see a rise in the Bank of England rate with in the next 4 months UN-less the inflation rate starts to fall.
This is a very strange move by the government to raise VAT and not expect for inflation to rise along with it.
This could be a excellent time to start shopping around for a fixed rate mortgae if you have been on the variable rate for a while.