Analysts anticipate that the base rate could remain at 0.5 per cent until well into next year, after inflation fell back in line with the two per cent target for the first time in two years.Speaking to the Times, City economists said that the new Consumer Price Index data - showing annual inflation at 1.8 per cent in June - dampen fears that inflation would remain stubborn despite the global recession.The Wall Street Journal reports that it has taken the Monetary Policy Committee (MPC) longer than expected to get inflation back down to two per cent because the weak pound has caused import prices to surge.Analysts are now of the view that the MPC will keep rates on hold until well into next year, with some predicting that they could stay pegged back at their 315-year low until 2011.And with the upside risk subsiding, attention has turned to the threat of deflation, as the Retail Price Index data published yesterday fell further into minus figures.