Interest rates may not be reduced until the UK is over "the spike of inflation, according to the Council of Mortgage Lenders (CML).
The current interest rate set by the Bank of England is five per cent and was held at that level last month.
According to the CML, only when the economy shows signs of "slowing down sharply" can the Bank consider moving to ease interest rates, which may not be possible until it is "clearer" that "we are over the spike of inflation".
"Therefore, any move in interest rates at that time will be more effective in delivering the intended outcome and also sustaining the confidence in the decisions being taken by the bank," they added.
The Office for National Statistics consumer price index recently rose to 4.4 per cent in July, from June's figure of 3.8 per cent.
It reflects the highest leap in the annual rate since records began in 1997.
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