The September meeting of the Bank of England’s Monetary Policy Committee (MPC) saw it hike rates by 50bps for a second consecutive month, bringing the key Bank rate up to 2.25%. This means that monetary policy has now been tightened for a seventh consecutive meeting in the UK. The pace of tightening accelerated in Q3, with two 50bps hikes, which compares to the more modest 25bps rate rises that were implemented over the period January to June. These were the first 50bps hikes since 1995