From the BBC
No-one is to face charges after the 16-month cash-for-honours investigation.
Four people were arrested - including two of Tony Blair's aides - during inquiries into whether honours were sold and whether a cover-up followed.
Police interviewed 136 people, including ex-Prime Minister Tony Blair and former Tory leader Michael Howard.
BBC political editor Nick Robinson said that Scotland Yard is preparing to make a public defence of its officers.
He said they are bound to come under fierce criticism for dragging out their inquiries for so long yet failing to produce a result.
Assistant Commissioner John Yates of the Metropolitan Police - who headed up the investigation - has said from the outset his officers were simply doing their jobs by investigating serious allegations.
The Crown Prosecution Service is set to announce its decision in the morning but has so far refused to formally comment.
I await the CPS and Police statements with interest.