Melanie Bien Director, Savills Private Finance

Decision: Hold

The last meeting saw the Bank of England's Monetary Policy Committee unanimous in its decision to hold the base rate at 0.5% and extend quantitative easing with a further pound 50bn of asset purchases. The economic news is mixed. The Consumer Prices Index fell from 2.9% in March to 2.3% in April, its lowest level since January 2008. This is in line with the MPC's expectation that the CPI will fall rapidly this year to well below the government's 2% target. Three-month LIBOR continues to fall while longer term swaps are edging upwards, with a number of lenders starting to raise fixed rates. Rising equity prices and a general improvement in financial market sentiment have been in evidence but unemployment is still edging up. New buyer enquiries are picking up but it is still hard to get mortgage finance, as recent Council of Mortgage Lenders figures prove. I vote for a hold.

Vic Jannels Chairman, All Types of Mortgages

Decision: Hold

A growing number of lenders and estate agents have been straying dangerously close to agreement in recent weeks, saying house prices are starting to gather pace and more properties are being sold month- on-month. March's inflation figure of 2.9% is still above the government's target. Unemployment continues to rise and could reach a 10-year high towards the end of this year. That said, consumer confidence seems to be gathering momentum. Many commentators are wearing different hats from the ones they had on a year ago and perhaps this will lead to a brighter Q3 2009. Perish the thought that the following two points may be linked, but with politics in turmoil a base rate rise may not be the brightest move for a party looking towards a general election. I vote for a hold.

Chris May Director, Vision Network

Decision: -0.25%

We have seen some good gains on the stock market recently and several so-called experts are beginning to sound bullish about the housing market bottoming out. Unfortunately, there is still no notable change in the wider economy, with many businesses struggling to find finance as lenders keep a tight grip on their cash. We have also seen some of the US' biggest banks repay their government debts quickly, which is somewhat suspicious but should still be regarded as positive news. I believe the situation here remains bleak, with a cloud of uncertainly hanging over the economy. The prices of petrol and other commodities are creeping upwards again and the MPC will need to keep things on track. It should be looking to reduce the base rate by 0.25% to nurture the tentative green shoots of recovery that seem to be emerging. I vote for a 0.25% cut this month.