Is the UK set for its 15th consecutive interest rate hike later this month? Markets expect that rates will peak closer to 6 per cent – up from 5.25 per cent now – but this might not happen immediately – or at all. Speaking at today’s Treasury Select Committee, the Bank’s governor Andrew Bailey suggested rate hikes were no longer a matter of certainty, as the headline rate of inflation is now back on track with the Bank’s projections for a significant fall by the end of the year.