The Bank of England is likely to follow up last week's interest rate cut with a further reduction, probably by the end of this year, according to a Reuters poll.
The poll of 42 economists, surveyed after the bank cut its benchmark rate to 4.5 per cent from 4.75, gave mid-range forecasts for rates to end this year and next at 4.25 per cent.
Economists assessed the chance of the next move in UK rates being a cut, as opposed to a rise, at 70 per cent. Of the 41 who answered this question, 32 saw the next move as a cut, eight saw a rise and one said the chances were even.
"Global growth is likely to slow and consumer weakness is likely to persist," said John Butler at HSBC.
Of those who gave specific timings for a cut, 24 thought it would come this year, with 19 of these predicting the move in November. Seven saw a cut in 2006 and one around the turn of the year.
This week's quarterly inflation report, where the bank details its outlook for growth and inflation, will be closely watched for more insights into the future direction of rates.
The poll results are at odds with interest rate futures markets, where contracts show UK rates staying at around 4.5 per cent until the end of 2006 and price in some risk of a rise during part of the period.
"It would be a strange cycle if they only cut once," said Alan Castle at Lehman Brothers, who expects a slowdown in the US economy next year to curb growth in Britain.
"The possibility of significant tax rises in the budget will also feed through to the consumer sector and the housing market," Mr Castle said.
UK manufacturing is in recession and economists say any deterioration in the services sector could also prompt further cuts. Brian Hilliard at Societe Generale said the bank would need to cut again to bolster consumer confidence, after revisions to national accounts data underlined growing caution about spending.
"I don't think we're falling off a cliff, but I think the bank has to cut again to make sure, then maybe one more time for insurance," Mr Hilliard said.