TD Research discusses its expectations for this week's BoE policy meeting on Thursday.

"This is likely the last 50bps hike of the cycle, with a clear signal that the MPC is gearing down to 25bps hikes as it nears terminal. Guidance is likely to be tweaked to remove "respond forcefully", but the MPC is likely to reinforce market pricing," TD notes. 

"If we're wrong on a 50bps hike, a 25bps hike would likely be accompanied by a very persistent tone, like the Fed in December," TD adds.