The pound has risen after the Bank of England announced plans to hold interest rates at 0.75% on Thursday.
Sterling is up 0.37% against the dollar at 1.306 and is up 0.24% against the euro at 1.185, a day before Britain is set to exit the EU.
Members of the Monetary Policy Committee (MPC) voted seven to two to hold rates at 0.75%, despite recent speculation that a cut was on its way.
The Bank is estimating growth will edge up to 0.2% in the first three months of 2020.
It stressed that a rate cut could still be on the cards if growth does not recover as expected.
The growth forecasts will make for painful reading for the Government, coming a day ahead of Brexit on January 31.
It also marks the decision for outgoing Bank Governor Mark Carney, who is handing over the reins to Financial Conduct Authority boss Andrew Bailey on March 16.
The Bank's forecasts show inflation - currently running at a three-year low of 1.3% - remain below the 2% target throughout 2020.
It predicts inflation will pick up to 2% by the end of next year, but added there are risks that it could be slower to pick up.
What it means for you
The Bank's decision to hold interest rates remains good news for homeowners and those looking to get on the property ladder right now.
Daniel Hegarty, founder of mortgage broker, Habito, said: "We hope today’s 'keep calm and carry on' approach to hold interest rates will complement the bounce seen in consumer confidence following the election, and get the UK moving in 2020.
"Over the last few years, we've seen a surge in homeowners choosing fixed-rate deals for their mortgage. This means many homeowners will be protected from any uncertainty around their monthly mortgage payment, should the Bank of England change rates later down the line."
If you're looking to remortgage, see our guide on how to do it right, here.
Richard Hayes, of digital broker, Mojo Mortgages, added: "With the base rate remaining the same for at least another month, mortgage rates continue to be low by historical standards.
"Nothing will change when it comes to your monthly repayments. The only pinch-point would be when it comes to Brexit. If we don't come to a trade arrangement by the end of the year, the gloomier no-deal forecasts may start to become an issue once more, and this could affect mortgage rates, as well as many other aspects of personal finance.
"Putting Brexit aside, mortgage rates are still very low at the moment, and many consumers who are on a fixed rate should know that they can take advantage of lower rates six months before their current deal expires and lock in at an even better rate."
However experts have warned that the decision to hold the base rate could still spell bad news for savers - as rates continue to dwindle.
"The decision to hold rates doesn't mean savers should breathe a sigh of relief and stay put," Sarah Coles, personal finance analyst at Hargreaves Lansdown said.
"Banks have been trimming their rates already. Over the last six months, they've become more convinced the Bank of England will keep rates low for years, so they've cut rates across the board.
"And while it's impossible to predict what will happen next for interest rates, significant rises would come as a real surprise.
"But you can get a better rate today. The vast majority of our savings is in easy access branch accounts with high street giants, typically offering 0.25%.
"By moving to a newer online bank you can earn more than five times as much on an easy access account – up to 1.35%. If you switch to an easy access cash ISA you can currently earn 1.36%.
"Everyone should have 3-6 months’ worth of expenses in an easy access account, but after that it’s worth considering fixing chunks of your savings for longer in return for more interest. You can still get 1.75% by fixing for a year and 2% by fixing for three years – eight times as much as in your easy access high street branch."
If you have money to lock away, there are a number of accounts in the market that are paying more than inflation - if you choose wisely.
See our guide on best easy access accounts and best savings accounts, here.
