"We now expect the BoE to hike rates twice more in May and June by 25 basis points each," Credit Suisse economists Sonali Punhani and Samuel Adams Williams said in a research note.

Their revised outlook peak Bank Rate follows a move by Goldman Sachs last Thursday to revise up its expectation for peak Bank of England rates to 5%.

While Credit Suisse said the extent of policy tightening feeding into Britain's economy implied a mild recession later this year and weak growth in 2024, it thought the BoE would feel pressured to keep raising rates in the near term by recent stronger-than-expected inflation data.

The most acute part of the global banking stresses had likely passed, the economists from Credit Suisse added.

The BoE's Bank Rate stands at 4.25% and investors in interest rate futures are putting a roughly 96% chance on an increase to 4.5% on May 11 after the BoE's next scheduled meeting, and a 65% probability of it hitting 5% by November.

The next Reuters poll of economists on the outlook for BoE rates is due to be published on Friday.

(Reporting by Andy Bruce; editing by David Milliken)