The Bank of England pegged interest rates at 4.5 per cent for the tenth month in a row yesterday as business toasted the World Cup factor.
The City had widely expected the Monetary Policy Committee would keep rates on hold this month.
And economists stayed split on prospects for the future, with some believing rates will remain steady for months while others believe a quarter point rise is on the cards.
It is thought Aston Villa supporter Governor Mervyn King probably wants the World Cup well out of the way before making any judgments about the strength of any high street rebound.
The tournament has been boosting shop sales of TVs and sportswear.
Those economists tipping a rise suggest rates will edge ahead to 4.75 per cent, with some pencilling in a move as early as August.
The MPC recently warned it was in danger of overshooting its key Government-set two per cent inflation target within two years time if interest rates remained as they are.
Inflation hit two per cent in April after rising at its fastest rate for nearly two years on the back of soaring energy costs and higher air fares.
Investec chief economist Philip Shaw said: "The bank seems very concerned about inflationary pressures in the near-term and it is also optimistic about the pace of growth in the economy.
"If the economy continues to perform as it is, interest rates will rise at some point."
But manufacturers' organisation the EEF urged the Bank to continue to ignore premature calls for an increase.
It maintained rising productivity and more intense competition meant inflation was not a threat.
Ian Smith, chief executive of EEF West Midlands, said: "Just as in the past few months we have seen little justification for an interest rate cut, we see little justification for a rise either. It is far too early to judge the effects of rising costs and there is no convincing evidence of grow-ing inflationary pressures."
The CBI also welcomed the MPC's decision to keep rates on hold. Ian McCafferty, CBI chief economic advisor, said: "The economy is recovering from the doldrums of last autumn, raising some fears of the prospect of a modest acceleration in inflation.
"So far, though, this is unproven, and any upward move in rates would have been premature. Leaving rates u nchanged sends out a confidence-enhancing message of stability."
Stuart Law, managing director of property invest-m ent specialist Assetz, believes the BoE will leave well alone.
He said: "The MPC has made absolutely the right decision in holding interest rates and I would not expect to see any change now until 2007, when a 0.25 per cent rise is probable.
"The current economic situation is not strong enough to justify a rise in rates.
"The housing market is stable and showing positive over-all growth, but it is closely tuned with interest rate movements.
"While investors would probably take it in their stride, even a quarter-point rise would cause a substantial change in homebuyer attitudes and put another nail in the coffin of the beleaguered first time buyer."
The Bank of England last increased interest rates in August 2004, reducing them to their current level.
The European Central Bank raised its main interest rate by 0.25 per cent to 2.75 per cent in a move that had been expected by economists, although some had predicted a 0.5 per cent rise.