Published by Zeb BhamThere is unlikely to be any change in the base rate of interest this month, an expert has argued.Michael Baxter, editor of Investment and Business News, said the recent figures revealing GDP growth of 0.5 per cent will delay any rise.He said that the latest figures give support to the notion that any interest rate rise will be delayed.Despite this delay, Mr Baxter believes interest rates will still rise "once or twice" this year.Such changes may have more of a negative effect than currently expected, he added."I wouldn't be at all surprised if we saw it going back to half a per cent next year," he said.The markets had increasingly been factoring in a rate rise for May, but recent data has pushed back the assumptions, with many experts now expecting the first increase to come no sooner than August.Many analysts have also predicted that a rate increase may not come until the end of the year.For more information on international payments, visit our Smart FX site