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Since 1963 house prices have inflated a total of about 5,000% while the official inflation figure is only 1,800%.
April's monthly inflation figure is rumoured to be over 5%.
The MPC will have known the inflation figure before making Thursday's decision.
This is up significantly on February's annual inflation figure of 3.6percentnt.
Today's changes will feed into February's inflation figure, due to be announced tomorrow.
It will be whatever the RPI inflation figure is in the future, plus up to 3%.
Student loan interest rates are linked to March's retail price index inflation figure.
This had the effect of keeping the official inflation figure in single digits.
This annual inflation figure has been coming down since October, when it was almost 7percentnt.
September's CPI inflation figure of 3.1% will be used rather than the 4.6% retail prices index (RPI).
A spokeswoman for the Treasury said: "Today's inflation figure continues the trend we've seen over the past year.
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