Another BoE MPC announcement, another hike in interest rates. Having already raised Bank Rate at each of the last four meetings, financial markets seem convinced that Thursday’s statement will make it five out of five, making it the steepest sequence of increases in quarter of a century. The market consensus is another 25 basis point rise that would put the benchmark rate at 1.25 percent, its highest level since January 2009, but there is significant speculation that the pace of tightening might be stepped up. Even before looking at the data, the chances of another increase this month had already been boosted by the ... (full story)