City searching for signals as Bank of England set to hike interest rates

City traders are searching for any signs the Bank of England could move faster in hiking interest rates in the coming months with policymakers widely expected to tighten monetary policy on Thursday . The Bank’s Monetary Policy Committee is set to lift interest rates from 3.75 per cent to four per cent in a bid to quell rising price pressures in the UK economy. But City analysts said the fine-print around the Bank’s decision will be crucial in signalling the pace and scale of further potential interest rate hikes in the coming months. BNP Paribas analysts said “communication” was set to be the focus of the Monetary Policy Committee’s crunch decision, with investors and analysts set to pore over members’ explanations for their votes and the official guidance set out by the Bank. The French bank said in a note to clients that its forecasts would “have to be overhauled” given the Bank of England’s current stance that it ‘stands ready to act’ on inflation “will no longer be