The Bank of England is expected to increase interest rates for an 11th consecutive time following a surprise jump in the rate of rising prices.
Analysts think an increase in the Bank rate from 4% to 4.25% is the most likely outcome of the Monetary Policy Committee meeting later.
Policymakers face a balancing act between controlling inflation and ensuring financial stability.
A change would have an immediate impact on some borrowers and savers.
The cost of a variable or tracker mortgages would go up, as could the interest on other loans, but the rate of return for savers may improve.
The Bank rate is already at its highest level for 14 years, rising consistently in response to the soaring cost of living.
An unexpected increase in the rate of inflation - which charts rising prices - was revealed on Wednesday. The rate went up to 10.4% in the year to February, compared with 10.1% in January.