Could the Bank of England pause its interest rate hiking cycle in September? Just a month ago, market pricing implied that would be highly implausible. Investors were close to pricing 50 basis-point rate hikes both in August and September – and indeed expected further moves to take Bank Rate well above 6%. We warned at the time that this seemed exaggerated, and sure enough there's been a big reappraisal of the Bank's tightening cycle over the past few weeks, culminating in the Bank delivering a more modest 25bp hike at its August meeting. A repeat move is largely priced for September, but markets are also factoring ... (full story)