Britain is for sure one of the most consumer/services dependent economies within the G20 and if rate hikes (towards what was once ordinarily accepted as normal) are to be truly effective, then there will need to be many more of them. In any case, such action is unlikely to drive the pound high enough to offset the damage that could be inflicted on the economy, and the consumer, not to mention the negative effect it could have on the housing market and the debt burden there.
Brexit issue adds to uncertainty and is hampering the CBE (BOE) ability to act firmly enough domestically and more importantly - the foundations that were set to ensure £ presence in money markets are crumbling away. The balance sheet is shrinking and so is the loan book and so is the exchange rate.
"When you've played the dirt long enough, you can tell how it's gonna fall."